Lender Processing Services Inc. (LPS) has responded to the civil complaint filed by Nevada Attorney General Catherine Cortez Masto against LPS, DOCX LLC, LPS Default Solutions Inc. and other subsidiaries of LPS accusing the firms of engaging in false and deceptive actions against Nevada consumers. In the Motion to Dismiss filed by LPS, the company makes clear that the AG Masto's complaint contains significant legal defects which require the court to dismiss the complaint with prejudice. LPS points out that AG Masto's complaint fails to allege that any document executed by subsidiaries of LPS was incorrect, contained errors or caused any borrower financial harm.
"LPS filed this Motion to Dismiss in response to the allegations made by the Nevada Attorney General," said Hugh Harris, LPS president and chief executive officer. "Although we have to defend ourselves against allegations that we believe are untrue, we remain committed to working with the Attorney General's office to resolve these matters."
"The Plaintiffls Complaint suffers from a myriad of serious substantive defects which require dismissal," states the Motion to Dismiss. "Initially, the Act does not apply to allegedly deceptive mortgage foreclosures or allegedly deceptive foreclosure related documents, but rather is limited to sales of goods and services. Because plaintiff has failed to allege that the Defendants engaged in the sale of goods and services, the Complaint simply fails to state a claim and must be dismissed."
AG Masto's initial lawsuit, filed in late December, accuses LPS of misconduct that was confirmed through testimony of former employees, interviews of servicers and other industry players, and a review of more than one million pages of relevant documents. Former LPS employees and industry players described LPS as an assembly-line sweatshop, churning out documents and foreclosures as fast as new requests came in and punishing network attorneys who failed to keep up the pace.
- Mortgage Fulfillment Administrator - TwinStar Credit Union - Lacey, WA
- Variable Compensation Manager - New Penn Financial - Plymouth Meeting, PA
- Mortgage Advisor - United Federal Credit Union - South Bend, IN
- Vice President - Producer - NorthMarq Capital - Minneapolis, MN
- Vice President - Producer - NorthMarq Capital - White Plains, NY
- Operations Manager - Underwriting - Accenture - Charlotte, NC