Anyone concerned about the systematic failure of our Banking system and what contributed to it bear in mind Fidelity’s monopolistic practices played a major role. I thought it was due to their Racketeering Activities just related to their Title Industry purchase of several independent underwriters, but it seems they also contributed to the Banking failure by participating in the cloaking of public record documents by fraudulent indexing and now it also seems they were involved in the ROBO SIGNING DOC SCAM!
“LPS and its subsidiaries, including Georgia-based DocX, engaged in widespread fraud involving mortgage related documents,” Georgia Attorney General Sam Olens said in a news release. “This multistate settlement holds LPS accountable for past actions and puts new requirements in place to prevent future misconduct.”
Though some other states and the federal government have pursued criminal action against the company’s former CEO, Lorraine Brown, Georgia has not. Olens’ office has said it has no jurisdiction over the fraudulent foreclosure documents filed before mid-2012, though local district attorneys do.
LPS previously settled with Missouri, Delaware and Colorado, and LPS CEO Hugh Harris said in a news release his firm “look(s) forward to favorably resolving our remaining regulatory and legal issues in the near future.”
As part of the settlement, LPS is required to review documents its affiliates filed from 2008 to 2010 to determine if any need to be corrected.
DocX processed paperwork for lenders and mortgage servicers, including documents known as “assignments” that are used in the foreclosure process.
They’re a spinoff of Fidelity, and not an easy site to find.