PROVIDENCE, R.I. -- The office of Attorney General Peter F. Kilmartin announced Thursday that the state will receive $447,965 as part of a $120-million, multistate settlement with Lender Processing Services, Inc. for the company's past robo-signing practices while dealing with foreclosures.
LPS, based in Jacksonville, Fla., provides technical support to banks and mortgage loan servicers, and the company prepares, notarizes and files mortgage-related documents.
"In recent years, questionable practices ... allowed LPS and its clients ... to process increasing volumes of paperwork, driven by the rising tide of foreclosures," Kilmartin's office said in a news release. "Legal documents were signed en masse by employees who were not authorized to do so and notaries public improperly certified the signing of the documents."