Lender Processing Services Inc. has announced that it has reached a settlement with the office of the Colorado Attorney General that concludes the state's investigation of the former document execution practices by LPS subsidiaries.
The terms of the settlement provide for, among other things, a payment of $1.3 million and reimbursement of $500,000 for fees and costs to the attorney general's office. The terms of the settlement also provide for a release of potential liability of LPS and its subsidiaries related to past document execution practices in Colorado.
‘This settlement is another important step in our continuing efforts to resolve legal and regulatory issues related to past, discontinued document execution practices,’ said Hugh Harris, president and CEO of Jacksonville, Fla.-based LPS. ‘LPS remains focused on resolving all remaining legal and regulatory challenges as expeditiously as possible, and is committed to ensuring that we continue to operate with integrity and compliance in everything we do.’