Lender Processing Services Inc.
(LPS), one of the nation's largest foreclosure processing companies, has agreed
to pay Iowa nearly $1.1 million as part of a $120 million multistate
settlement. The agreement, which included attorneys general of 45 states and
the District of Columbia, alleged that that the Florida company
"robo-signed" foreclosure documents and engaged in other improper
conduct related to mortgage loan default servicing. District Judge Robert
Blink approved the consent
judgment Thursday after Iowa Attorney General Tom Miller filed
a consumer fraud petition in Polk County District Court alleging improper
conduct. The consent judgment requires LPS and its subsidiaries to reform their
business practices and, if necessary, to correct documents they executed to
assist homeowners.