(Source; Bloomberg, by the associated press) – The top prosecutors in California and Illinois are investigating allegations that one of the nation’s largest mortgage processing companies engaged in the illegal practice of “robosigning” — signing thousands of foreclosure documents without checking their accuracy.The attorneys general of both states said Wednesday that they’ve subpoenaed Lender Processing Services Inc. California ordered the company to produce documents and answer questions about its practices as far back as 2007.
Lender Processing is one of 16 banks and servicers that the federal government last month ordered to reimburse homeowners who were improperly foreclosed upon.
Source; Bloomberg, by the associated press
May 25, 2011, 4:08PM ET
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