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Specialreport:Legalwoesmountfora
foreclosurekingpin
Mon,Dec62010

ByScotJ.Paltrow
JACKSONVILLE,Florida(Reuters)LenderProcessingServicesisriding
thewavesofforeclosuressweepingtheUnitedStates,butinlateOctober
itsCEO,JeffCarbiener,foundhimselfneedingtoreassureinvestorsinthe
$2.8billioncompany.
Althoughprofitswererollingin,LPS'sstockhadtakenahitinthewakeof
revelationsthatmortgagecompaniesacrossthecountryhadfiled
fraudulentdocumentsinforeclosurescases.Earlierintheyear,the
company,whichhandlesmorethanhalfofthenation'sforeclosures,had
disclosedthatitwasunderfederalcriminalinvestigationandadmittedthat
employeesatasmallsubsidiaryhadfalselysignedforeclosuredocuments.
Still,CarbienertoldtheWallStreetanalystsinanOctober29conferencecallthatLPS'slegalconcernswereoverblown,and
thestockhasjumped13percentsinceitsclosethedaybeforethecall.
ButaReutersinvestigationshowsthatLPS'slegalwoesaremoreseriousthanheleton.Publicrecordsrevealthatthe
company'sLPSDefaultSolutionsunitproduceddocumentsofdubiousauthenticityinfarlargerquantitiesthanithas
disclosed,andoveramuchlongertimespan.
Questionablesigningandnotarizationpracticesweren'tlimitedtoitssubsidiary,calledDocX,butoccurredinatleastoneof
LPS'sownoffices,mortgageassignmentsfiledincountyrecorders'officesshow.Andratherthanhaltsuchpracticesafterthe
federalinvestigationgotunderway,thecompanyshiftedthesigningtofirmswithwhichithasclosebusinessties.LPS
providedpersonneltoworkinthenewsigningoperations,accordingtoinformationfromanLPSspokeswomanandcourt
recordsincludinganOctober21rulingbyajudgeinBrooklyn,NewYork.Recordsincountyrecorders'offices,andinthe
judge'sopinion,showthat"robosigning"andpreparationofapparentlyfalsedocumentswentonatthesesitesonalarge
scale.
Inoneinstance,ithelpedsetupamassivesigningoperationatthenearbyofficeofamajorclient,aspokeswomanforthe
client,AmericanHomeMortgageServicing,confirmed.LPShirednotarieswhoworkedtheresaidininterviewsthattrovesof
documentswereimproperlyhandled.Theysaidthatabout200affidavitsperdaywererobosignedduringthetwomonthsthe
twonotariesremainedthere.
AspokeswomanforLPSconfirmedtoReutersthatithadhelpedotherfirmsestablishoperationsthatperformedthesame
function.LPSspokeswomanMichelleKerschdidn'tspecifywhichfirms.Butbeginningearlyin2010,countyrecorders'
recordsshow,signingshiftedalsotolawfirmsundercontractwithLPS.
Interviewswithkeyplayersandcourtrecordsalsoshowthatpendinginvestigationsandlawsuitsposeabiggerthreattothe
companythanCarbienerleton.
ThecriminalinvestigationinJacksonvillebyfederalprosecutorsandtheFederalBureauofInvestigationisintensifying.The
samegoesforaseparateinquirybytheFloridaattorneygeneral'soffice.Individualswithdirectknowledgeofthefederal
inquirysaidthatprosecutorshaveimpaneledagrandjury,beguncallingwitnessesandsubpoenaedrecordsfromLPS.
ThecompanyconfirmedtoReutersthatithashiredPaulMcNulty,formerdeputyU.S.attorneygeneralintheGeorgeW.
Bushadministration,torepresentitintheinvestigation.AspokeswomanfortheU.S.Attorney'sofficedeclinedtocommenton
theprobe.
TheU.S.ComptrolleroftheCurrency'soffice,whichisresponsibleforsupervisingnationalbanks,alsoannouncedin
NovemberthatithadteamedupwiththeFederalReservetoconductanonsiteexaminationofLPS.
Meanwhile,thethreatsfromfourclassactionlawsuitsfiledinfederalcourtsappeartobegreaterthanthecompanyhas
indicated,especiallyonefiledinMississippi.Inahighlyunusualmove,aunitoftheU.S.JusticeDepartmenthasjoinedthat
suitasaplaintiff.ThelawsuitallegesthatLPSextractedmanymillionsofdollarsinkickbacksfromlawfirmsthroughan
illegalfeesharingarrangement,inexchangefordolingoutlucrativeforeclosureworktothem.
ThelawsuitalsochargesthatLPSillegallypracticeslawandroutinelymisleadshomeownersandfederalbankruptcy
judges.CarbienerhassaidthereislittlereasontoworryabouttheMississippisuitbecausethecompanyalreadyprevailed
inafederallawsuitinTexasthathadmadenearlyidenticalaccusations.Butcourtrecordsinthatcaseshowthatthelawsuit
wasdroppedwithoutanyrulingonthemeritsoftheallegations.

CopiesofLPSinternaldocumentsobtainedbyReutersandtestimonyinlawsuitsshednewlightonthecompany'sunusual
dealingswithitsvastnetworkoflawfirms.LPSrelentlesslypressedthemforspeed.Theresultwasalmostinstantfilingof
foreclosuredocuments,mostlypreparedbyclericalworkers,notlawyers,accordingtocourtrecords,includingdeposition
testimonybyLPSofficials.SeveraljudicialopinionsfromaroundthecountryandevidencefrominvestigationsinFlorida
showthatthesedocumentsoftenwereriddledwithinaccurateinformationabouttheamounthomeownersowed,andwere
signedandnotarizedenmassewithoutanyoneatthefirmscheckingtheinformationinthem.
UnderLPS'ssystem,lawfirmsthatwereslower,oftenbecausetheirlawyerscarefullypreparedandreviewedcourt
documentsbeforefilingthem,wereeffectivelypunished,accordingtodepositiontestimonyandothersources.Thecomputer
automaticallyassignedbadratingstothesefirms,andtheflowofworkassignmentstothemdriedup.
ABOOMINGBUSINESS
FewfirmsbenefitedmorefromthecollapseoftheU.S.housingboomthanLPS.Spunoffasanindependentcompanyin
2008,thecompanyhasseenitsprofits,withbighelpfromitsmortgagedefaultservicesbusiness,reach$232millionforthe
firstninemonthsof2010.Thatisanearly15percentincreasefromthesameperiodin2009.Itsrevenuelastyearwas$2.4
billion,upfrom$1.8billionin2008.
Andbusinesscontinuestosurge.CarbienertoldanalystsontheOctober29callthat"wecontinuetogainmarketshare
acrossallkeybusinesssegments."InaNovember23reportpreparedforinvestorsandclients,LPSsaidbanksarepushing
toforecloseonpropertiesasrapidlyaspossible,driving"theforeclosureinventoryratetoalltimehighs."Itsaidthatatthe
endofOctober,thenumberofpropertiesgoingintoforeclosureis"7.4timeshistoricalaveragesandrising."
Thebanks'pushtoevicthomeownersfasterandinbiggernumbersthaneverbeforemakesLPS'sservicesevenmore
crucialtothem.LPS'ssuccessisbuiltonitsadvanced,superautomatedsystemthatishighlyefficient,lowcost,andspeeds
foreclosuresthroughtocompletion.The"LPSDesktop"startsforeclosureactions,assignsworktolawfirmsandsupervises
thecasestoconclusionwithalmostnointerventionbyhumans.(LPSsaysforeclosureactionsarestartedbyitsclients,the
loanservicers.ButcopiesofagreementswithservicersobtainedbyReutersshowthatLPShasdirectaccesstothebanks'
andotherservicers'computersystems,andLPSdetectsdefaultsandinitiatesforeclosuresbasedonparametersgiventoit
bythebanks.)
Fewloanservicerscouldresisthandingoverkeytaskstothecompany.Today,LPSboastsaclientlistthatincludes14ofthe
15biggestloanservicers,withhouseholdnamessuchasWellsFargoandJPMorganChaseitstwobiggestclients,
accordingtoLPS'smostrecent10KfilingwiththeSecuritiesandExchangeCommission.ThecompanyhassaidthatBankof
Americajoinedasaclientearlierthisyear.LPSsaysthatall50ofthenation'slargestbanksuseatleastsomeofitsservices.
Inessence,LPSisagiantelectronicbutlerforthebigbanksandothercompaniesintheindustry.Itattendstoroutinetasks
theloanservicersprefernottodothemselves.Theseincludetrackingmortgagepayments,calculatingamountsowedto
investorswhopurchasedbundlesofmortgages,ensuringthatpropertytaxesandinsurancegetpaidandautomatically
filingforeclosureactionswhenhomeownersgointodefault.
Thependinginvestigationsandlawsuits,however,arefocusingonwhetherLPS,initszealtoserveitsclients,brokethe
rules,inpartbyreplacingmissingbankdocumentswithfictitiousonestomakeforeclosurecasesgothrough.
SIGNATURETROUBLE
ThefirstsignoflegalproblemsforLPSemergedearlierthisyear,whenthecompanydisclosedthatfederalprosecutorsin
FloridahadopenedacriminalinvestigationintoapparentlyforgedsignaturesonforeclosuredocumentspreparedbyDocX,
theshutteredsubsidiarylocatedinasmallofficeparkinAlpharetta,Georgia.
FidelityNationalFinancial,LPS'sformerparent,hadboughtDocXin2005.Theunitsoonbecameahighspeedmill,
churningoutmortgageassignmentsmanyofwhicharenowknowntobeofdoubtfulvalidityonbehalfofbanksand
investortrusts,helpingthemtoforecloseonhomeowners.
Mortgageassignmentsaredocumentstransferringownership,usuallyfromtheoriginallenderstotrustsownedbyinvestors
whoboughtsecuritizedpackagesofmortgages.Loanservicerstypicallyfileforeclosureactionsonbehalfofthetrustswhen
anyoftheirmortgagesgointodefault.Butcasespoppingupalloverthecountryshowthattheoriginallendersneverhanded
overownershipofmortgagestothetrusts.Assignmentsestablishingownershipofamortgagearerequiredasevidencein
foreclosurecases.
DocXturnedouttensofthousandsofnewlymintedmortgageassignments,purportingtoshowtransfersofownershiplong
afterthemortgagesshouldhavebeenhandedovertothetrusts,accordingtothestandardprovisionsintrustagreements.
ThousandsoftheseborethesignatureofDocXemployeeLindaGreen.Thesignaturesdidn'tlookalike,however,andLPS
eventuallyconfirmedthatmultipleDocXemployeeshadsignedhername.Someoftheassignmentsstoodoutbecausethey
listedthenewownerofthemortgagesas"bogusassignee"or"badbene."
LPSspokeswomanMichelleKerschsaid"bogusassignee"and"badbene"weresimplystandardplaceholdersondocument
templateswhichtheemployeesinadvertentlyhadneglectedtofillinwiththepropernames.
InhisOctober29conferencecallwithanalysts,CarbienersaidthatwhenthecompanydiscoveredtheDocXwrongdoingin
December2009,itimmediatelystoppeditandsoonshutDocXdown.ButitturnsoutthatDocXcontinuedoperatingmuch
longerthanLPSoriginallyhadacknowledged.InawrittenresponselastweektoquestionsfromReuters,LPS'sKersch
confirmedthatDocXactuallywasn'tcloseduntilAugust2010.Shesaid:"ThelastdocumentsignedbyDocXwasonMay14,
2010."Butshesaidnoimpropersigninghadoccurredtheresince2009.
DUBIOUSDOCUMENTS
HundredsofpublicrecordsexaminedbyReutersshowthatproductionofsuspectmortgageassignmentswasnotlimitedto

DocX.
TherecordsindicatethatemployeesinoneofLPS'sownoffices,inMendotaHeights,Minnesota,signedandnotarizedlarge
numbersofdocumentswhichformultiplereasonsappearinvalid.Recordsfiledwithcountyrecorders'officesshowthatthe
MinnesotaofficecontinuedtoturnoutthesedocumentsatleastthroughtheendofJanuary2010.
DozensofassignmentsweresignedbyLPSMinnesotaofficeemployeeswholistedthemselvesascorporateofficersof
banksandotherloanservicers,asamplingofpublicrecordsfromcountiesinfivestatesshows.AsatDocX,theassignments
weresignedyearsafterthemortgagesshouldhavebeentransferredtotheinvestmenttrusts.
ThesignatureofoneoftheseLPSemployees,LiquendaAllotey,appearsonthousandsofmortgageassignments.
Homeowners'lawyersandatleastonejudgefederalbankruptcyjudgeJoelB.RosenthalinMassachusettshavenoted
thatAllotey'ssignatureisasimplezigzagline,raisingquestionsaboutwhetherotherindividualsmayhavesignedhisname.
Titleslistedbelowthesignatureidentifyhimvariouslyas"vicepresident"or"attorneyinfact"foratleast13banksand
mortgagecompanies.
LPSspokeswomanKerschsaidAlloteysignedallofthedocumentshimself,andsaidallmortgageassignmentspreparedin
theMinnesotaoffice"wereexecutedunderalawfulgrantofauthority."Shedidn'tspellout,however,howsuchauthoritywas
given.
Inanyevent,twootheraspectsofmanymortgageassignmentssignedbyMinnesotaemployeesraisestrongdoubtsabout
thedocuments'legitimacy.
Statelaws,backedupbycourtdecisions,requirethatmortgageinvestmenttrustsandothersfilingtoforecloseonhouses
possessavalidmortgageassignmentatthetimetheyfileforforeclosure.Ifitdoesn't,thelawsrequirethatthecasebe
dismissed.
Anexaminationofcountyrecorders'recordsturnedupdozensofmortgageassignmentssignedandnotarizedbythe
Minnesotaofficeweeksormonthsafteraforeclosurecasehadbeenfiled.Recordsshowthateventhoughinvalid,the
belatedmortgageassignmentsoftenenabledforeclosurecasestosailthrough.
AprilCharney,anattorneywhorepresentshomeownersatJacksonvilleAreaLegalAid,saidinaReutersinterviewthatin
mostinstanceshomeownerscan'taffordlawyersanddon'tchallengetheforeclosures.
Inmanystates,judgesoftenapprovetheforeclosureswithoutcarefullyexaminingthedocuments,shesaid.Andatleastuntil
recently,whenwidespreadquestionswereraisedaboutthelegitimacyofmortgagedocuments,judgesroutinelyaccepted
belatedmortgageassignmentsevenincasescontestedbythehomeowners,shesaid.
EquallydifficulttoexplainaremortgageassignmentssignedbyLPSMinnesotaemployeespurportingtobeofficersof
lendersthatnolongerexisted.Forexample,inJanuary2010,twoMinnesotaemployeesjointlysignedoneasofficersof
EncoreCreditCorp.,defunctsince2008.
Onotheroccasions,LPSemployeessignedasauthorizedofficersofAmericanBrokersConduit,wellafterthesubprime
lenderhadbeenliquidatedinbankruptcy.AndinmanyinstancestheysignedasofficersofSandCanyonCorp.InaMarch
18,2009affidavit,SandCanyon'spresident,DaleM.Sugimoto,saidthecompanyhadcompletelyexitedthemortgage
businessin2008andhadnomortgagestoassign.
Inwrittenanswerstoquestions,LPSspokeswomanKerschdidn'tresponddirectlytoquestionsabouttheemployeessigning
mortgageassignmentsaftertheforeclosureshadbeenfiled,oraboutsigningonbehalfofdefunctcompanies.Instead,she
saidthattheLPSemployeessignedmortgageassignmentsbecauselawyerswhohadfiledforeclosurecasesaskedthem
to.Shesaidthelawyers"decidewhenandifanassignmentofmortgageisrequired."
ShortlyafterthefederalinvestigationwaslaunchedinDecember2009,LPSbeganmovingtocurtaildocumentsigning
activitiesatthecompanyitself.LPSsaysthattheMinnesotaofficestoppedsigningmortgageassignmentsattheendof
January2010,andpublicrecordsappeartoconfirmthat.CarbienersaidduringtheanalystsmeetingthatLPShasnow
endedallsigningofmortgageassignmentsandaffidavitsatthecompany.
Withoutsomeonetodrawupreplacementdocuments,though,LPS'sclientsfacedpotentialhardship,becausesomany
mortgageswereneverassignedbylenders,asrequired,inthefirstplace.Withoutthesedocuments,thousandsof
foreclosuresalloverthecountrywouldcometoahalt.
Reutershaslearnedthatratherthanstampingoutthepractice,LPSinDecember2009begantransferringsigning
operationsoutofitsownofficesandintothoseoffirmsithascloserelationshipswith.KerschconfirmedthatLPSsent
personneltowork"atclientlocationstoassistclientsduringthisperiod."
Forexample,LPSarrangedthroughalocalemploymentservicetohireaboutadozennotaries,sendingthemtoworkata
newsigningoperationsetupintheJacksonvilleofficeofAmericanHomeMortgageServicing,oneofLPS'sbiggestclients.
Recordsfromcountyrecorders'officesshowthatatleastasrecentlyasOctober,AmericanHomeMortgageServicing
employeessignedexactlythesametypeofquestionablemortgagesassignmentsthatLPSstaffersatDocXandin
Minnesotahadsigned.TheseincludedassignmentsdoneonbehalfofdefunctcompanieslikeAmericanBrokersConduit,
andafterforeclosureactionsalreadyhadbeenfiled.ReutersobtainedapartiallistofthenamesoftheLPShirednotaries.
Copiesofmortgageassignmentsavailablepubliclyshowthatthesenotariesnotarizedmanyoftheseassignments,including
onessignedonbehalfofdefunctcompanies.
Ininterviews,twoofthenotaries,whoaskedthattheynotbeidentified,saidtheAmericanHomeMortgageServicingoffice
alsosetupa"robosigning"operationforaffidavits,anothertypeofdocumentrequiredinforeclosurecases.Theemployees
whosignedtheaffidavitswereswearingthattheyhadverifiedthefactslistedinthem,suchasthespecificamountsowedby
homeowners.

Butthetwonotaries,whosaidtheyweredismissedafterraisingquestionswithsupervisorsaboutthepractices,saidthat
eachmorningaboutahalfdozenAmericanHomeMortgageServicingemployeesinaboutanhourwouldsignsome200
affidavitsreceivedviaLPS'scomputersystem,withoutreadingthem,letaloneverifyingthefactstheycontained."Inthattime,
comeon,youhavenotverifiedfiguresin200documents.That'simpossible,"oneofthenotariessaid.
PhilippaBrown,spokeswomanforAmericanHomeMortgageServicing,saidinanemailedstatementthat"Werecentlyhad
independentauditsconductedonourprocessesanditwasfoundthatatnotimewasAHMSI(AmericanHomeMortgage
ServicingInc.)'robosigning'."SheconfirmedthatthecompanyhadusedDocXuntilDecember2009,andthen"contracted
withLPS"toprovideitwithnotaries"inconnectionwithexecutionofaffidavitsandotherdocuments"inAmericanHome
MortgageServicing'soffice.Concerningassignmentsthecompanysignedfordefunctlenders,BrownsaidAmericanHome
MortgageServicing"obtainsauthorizationfromthepreviousparties,"butdidnotexplainhow.
LPSacknowledgedthatithadsentnotariestoseveralcompaniestohelpthemsetupsigningoperations.Kerschsaid:
"WhenLPSDefaultSolutionsgrouptransitionedawayfromsigningdocumentsonbehalfofitscustomers,insomecasesit
employednotarieswhoworkedonsiteatclientlocationstoassistclientsduringthisperiod."Thespokeswomanconfirmed
thatLPSprovidedtrainingatthesesites,butsaiditwasonly"technical"trainingonusingtheLPSDesktopsystem.
TROLLINGFORCASES
ItremainsunclearwhetherLPSfacesmorelegalrisksbecauseofitsdocumentsigningoperationsorbecauseofitsodd
arrangementwiththelawyersassignedtofileforeclosureactions.
Reutershasobtainednewdetailsofhowtherelationshipworkedfromcopiesofthe"networkagreements"thelawfirmssign
withLPS,amongothersources.Interviewsandrecordsfromcourtcasesshowthatthissystemoftenworkedtothedetriment
ofhomeownersstrugglingtokeeptheirhomes.
LPSsaysthatclientsaretheoneswhopicklawfirmstorepresenttheminforeclosurecases.Butcopiesofitsagreements
withclientsreviewedbyReutersstatethatthecompany'sclientssignuptouseLPS'snetworkoflawyer.Theagreements
anddepositionsfromlawsuitsshowthatwhenahomeownergoesintodefault,theLPSsystemautomaticallyselectsalaw
firminitsnetwork,sometimesusingcriteriasetbyaclient,andtransmitsanofferofworkthatpopsuponthelawfirm'sLPS
Desktopscreen.
Thefirmhasnomorethanacoupleofhourstoacceptthejob.Andifitdoes,itimmediatelyagreestopayanupfrontfeeto
LPS.ThelawfirmsalsopayLPSamonthlyfeeforuseoftheLPSDesktopsystem.
Thecompanydeniesthatitchargesfeestolawyersinexchangeforassignmentsofwork.Kerschsaidthecompanycharges
feesstrictlyfortheuseofLPS'scomputersystem.CarbieneronOctober29said:"Ourservicesarenonlegal,andaresimilar
toanyotheroperationalcostofalawfirmsuchasthelicensingcoststheypayforwordprocessingsoftwareoraccounting
software."
ButinalawsuitdepositiononJanuary13,2010,ChristianHymer,anLPSfirstvicepresident,testifiedthatthecompanyoften
signsupthelawfirmsthatarepartofitsnetwork.Inaddition,untilrecently,lawyerssignedworkagreementsonlywithLPS,
notwiththeloanservicers.KerschsaidthatcurrentlylawyersarerequiredtosignseparateagreementsbothwithLPSand
theservicers.
Lawsinnearlyallstatesforbidlawyerstosharelegalfeeswithnonlawyers.Thelawsareintendedtopreventkickbacksfor
funnelinglegalworktoanattorney,thecostofwhichwouldbepassedontounsuspectingclientsor,asinforeclosurecases,
billedtohomeowners.
LPSisn'talawfirm.TheMississippiclassactionsuitallegesthatLPSisanonlawyermiddlemanbetweentheservicers
(actingonbehalfoftruststhatownthemortgages)andthelawyers.Itallegesthatthecompanyillegallydecideswhichlaw
firmsgettofileforeclosurecases,andmakesdecisionsaboutwhattheyfile.
RED,YELLOW,GREEN
Interviews,depositiontranscriptsandLPS'sownrecordsunderlinethatthecompanykeepsitsclientshappyandmaximizes
itsownfeeincomebywhippinglawfirmstogallopcasesthroughthecourts.
Thelawfirmsareonastopwatch:KerschconfirmedthattheLPSDesktopsystemautomaticallytimeshowlongeachfirm
takestocompleteatask.Itassignsfirmsthatturnoutworkthefastesta"green"ratingslowerones"yellow"and"red"for
thosethattakethelongest.
CourtrecordsshowthatgreenratingsgotofirmsthatjumponofferedassignmentsfromtheirLPScomputerscreensand
almostinstantlyturnoutreadytofilecourtpleadings,oftenusingteamsoflowskilledclericalworkerswithlittleoversight
fromthelawyers.CopiesofcompanynewslettersfromshortlybeforeLPSwasspunoffshowthatthecompanyeachyear
gaveawardstothelawfirmsthatwereconsistentlythefastest.
Firmsthatmovemoreslowlywereslappedwith"red"designations.Forthem,workoffersdriedup.
LPSdeniesthattheratingsystemisusedtopunishslowerfirms.Kerschsaidtheratingsaregeneratedsothatlawfirmscan
comparetheirspeedandefficiencywithanaveragecalculatedforawidegroupoffirms.
LEGALAFFAIRS
Theterm"robosigners"wascoinedtodescribethelowlevelclericalworkerswhosignedmanythousandsofaffidavitsfor
foreclosurecases,swearingtothetruthoffactstheyhadneverchecked.Butitturnsoutthattheprofessionalsatthesefirms
theattorneyswhohavestrictlegalandethicalobligationstofiletruthfuldocumentsincourthavecarriedoutsimilar
activitiesonalargescale.Theyallowedotherstosigntheirnamestomultipletypesofcourtpleadingstheyhadneverread
orbotheredtocheck,involvingmanytypesofdocuments.

InanApril2009courtdecision,DianeWeissSigmund,afederalbankruptcyjudgeinPhiladelphia,specificallyfaulted
lawyerswhosefirmfiledLPStransmitteddocumentsincourtusingclericalworkerstosignthenameofalawyerwhohadn't
lookedatthem.
Inthatcase,itturnedoutthat,contrarytothedocumentssuppliedviatheLPSsystem,thehomeownersweren'tindefaulton
theirmortgage.
ReferringtotheLPScomputersystem,thejudgestated,"theflawsinthisautomatedprocessbecomeapparent."Sheadded:
"Anattorneymustceaseprocessingfilesandactlikealawyer."
JacksonvillelegalaidattorneyCharneysaysthatcarelesslyprepareddocuments,containingbasicerrors,havebeenused
toforecloseonabigportionofthehomeownerswhohavelosttheirhouses.
LPSdeniesthatitssystemencouragescarelessnessbylawfirms.IntheOctober29conferencecall,ChiefExecutive
Carbienersaidthatbasedonroutineinternalreviews,"wearenotawareofanydefectsinoursigningandreviewprocesses
thatresultedinthewrongfulforeclosureofanyborrower."
(EditingbyJimImpocoandClaudiaParsons)
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Thiscopyisforyourpersonal,noncommercialuseonly.Toorderpresentationreadycopiesfordistributiontocolleagues,
clientsorcustomers,usetheReprintstoolatthetopofanyarticleorvisit:www.reutersreprints.com.