Fine related to 2011’s industry-wide foreclosure settlement
In 2011, Lender Processing Services was part of a massive settlement with the government over industry-wide foreclosure misconduct that occurred after the housing crash.
That settlement stemmed from document missteps in the third-party foreclosure process at some very large banks and mortgage servicers in the aftermath of the subprime crisis.
The settlement also included names like Bank of America, JPMorgan Chase, Wells Fargo, and Citigroup.
While those names stuck around, LPS eventually disappeared. LPS’ former parent, Fidelity National Financial, bought up the company and merged it with another subsidiary, ServiceLink Holdings, and formed Black Knight Financial Services.
On Tuesday, the ghost of LPS came back to haunt ServiceLink and Black Knight, as the Federal Reserve, Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corp
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