The 50 state settlement notwithstanding, the Department of Justice and every attorney general in the country have a brand new, slam dunk, open and shut case against every single bank that is still allowing a foreclosure case to go forward based on DOCX/LPS false evidence.
|By: Cynthia Kouril Wednesday November 21, 2012 6:00 am|
Yesterday I dashed off a post about the guilty plea taken by Lorraine Brown, the founder of DocX/LPS in which she admits that it was the custom and practice of her company to employee people to forge the signatures of others and to falsely notarize those signatures creating assignments, allonges and affidavits that were both forgeries and perjuries. In short, fraud.
|By: David Dayen Tuesday November 20, 2012 3:35 pm|
The Justice Department has issued their formal press release in the plea arrangement with Lorraine Brown, the former President of fraudulent foreclosure document processor DocX, a division of LPS. Brown pleaded guilty to wire and mail fraud and faces five years in prison and up to $250,000 in fines, from what DoJ describes as “a six-year scheme to prepare and file more than 1 million fraudulently signed and notarized mortgage-related documents with property recorders’ offices throughout the United States.” She also acknowledged lying to the FBI and other federal regulators investigating the scheme.
Separately, the state of Missouri, which had previously indicted Brown in the same scheme, announced their own plea agreement with her on fraudulent and forged document filings in his state.
|By: Cynthia Kouril Tuesday November 20, 2012 3:15 pm|
The Founder of DocX, which later changed its name to LPS, has pleaded GUILTY in US District Court for the Middle District of Florida. In the “Factual Basis” document attached to her Plea Agreement, Lorraine Borwn, the founder of DocX, LLC, admits that the documents produced by these companies from the period 2003-2009 were forgeries.
|By: David Dayen Friday August 3, 2012 1:43 pm|
You may remember that there was one big criminal case in the foreclosure fraud scandal leading up to the settlement. Missouri Attorney General John Koster indicted Lorraine Brown, the founder and former President of the document processor DocX, for forgery and making false declarations on mortgage documents. The assumption here was that you could go up the chain from DocX, which has been shuttered since May 2010, to its corporate parent, Lender Processing Services, and then over to the big banks that hired LPS to falsify documents for them.
Well, that didn’t happen.
|By: Cynthia Kouril Monday February 27, 2012 4:15 pm|
I just thought of something, if it is now acceptable to use forged and perjurious documents in foreclosure cases, DOCX, LPS and the other document mills have a huge new market available to them with homeowners. If forged and backdated allonges and assignments are OK, so too should be forged Satisfactions of Mortgage. Once the homeowner obtains a forged SAT from a document mill and files it with the county clerk, in theory, shouldn’t their foreclosure case be dismissed?
|By: David Dayen Tuesday February 7, 2012 10:45 am|
Yesterday, we began to get some accountability for foreclosure fraud in the unlikeliest of places: Missouri. This one blindsided us. Koster, a former Republican who switched parties to the Democrats in 2007, has simply not been front and center, and yet here he comes with a criminal indictment of one of the worst document processors in the country. And the indictment goes all the way to the top of the company, to its founder, who faces seven years in prison.
|By: David Dayen Thursday May 5, 2011 7:15 pm|
Federal regulators simply aren’t that interested in investigating foreclosure fraud and laying down the appropriate punishments. Tom Miller is too busy deflecting criticism about massive campaign contributions from the banking sector to run a proper state-based investigation. So it’s actually come down to the registers of deeds – the unassuming public servants working in county recorder’s offices across the country and carefully recording the transfers of land titles – to step up and deliver some measure of accountability on the banks for violations of law.