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Beau Biden

JPMorgan Reaches Record $13 Billion MBS Accord With DOJ

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The U.S. Department of Justice, along with federal and state partners, has announced a $13 billion settlement with JPMorgan—the largest settlement with a single entity in American history—to resolve federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JPMorgan, Bear Stearns and Washington Mutual prior to Jan. 1, 2009. As part of the settlement, JPMorgan acknowledged it made serious misrepresentations to the public—including the investing public—about numerous RMBS transactions.Click to continue

LPS Reaches Settlement With Delaware AG Over DocX Practices

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Lender Processing Services Inc. (LPS) has announced that its subsidiary, DocX LLC, has reached a settlement with Delaware Attorney General Beau Biden that concludes the state's investigation of the document execution practices by DocX. The terms of the settlement provide for, among other things, a payment of $150,000 to the State of Delaware in lieu of penalties, reimbursement of $100,000 to the Delaware Attorney General's Office for its fees and costs of investigation, and a release of potential liability of LPS and DocX related to document execution practices in Delaware.Click to continue

MERS Reaches Agreement With Delaware AG Biden to Provide Increased Transparency

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Delaware Attorney General Beau Biden has announced that the national shadow mortgage registry known as Mortgage Electronic Registration System Inc. (MERS) has agreed to implement important reforms–including regular reports on the accuracy of its records–as part of a  settlement of a lawsuit Biden’s office filed against it last year. Biden filed the suit after hearing from  homeowners throughout Delaware who were unable to have meaningful conversations about saving  their home and who were unable to find out who owned their mortgage.Click to continue

Who Owns Their Castle? Delaware Attorney General Biden Files Suit Against MERS

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Delaware Attorney General Beau Biden has filed suit against the Mortgage Electronic Registration System (MERS) charging that MERSCORP and its subsidiary Mortgage Electronic Registration Systems Inc. have repeatedly violated the state of Delaware’s Deceptive Trade Practices Act.Click to continue