Fla. Wins $8.6M In Foreclosure Malpractice Settlement

TALLAHASSEE (AP) — The state will get an $8.6 million share of a national settlement with a loan processing company over improper mortgage foreclosure practices, included “robo-signing”.

Attorney General Pam Bondi said Thursday the settlement is with Jacksonville-based Lender Processing Services Inc. and its subsidiaries. The total settlement is $120 million for 46 states and the District of Columbia.

Bondi’s office says Florida’s share will go into the state’s general fund minus costs for investigation and litigation.

The settlement also requires several changes in how documents are handled. One prohibits “robo-signing,” in which a person signs foreclosure documents without first-hand knowledge as required by the law. There will also be enhanced review of fees charged in default transactions and other changes.

(TM and © Copyright 2013 CBS Local Media, a division of CBS Radio Inc. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)


One Comment

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Miami

Weather Forecast 24/7
Tracking Hurricane Matthew: Interactive Maps

Listen Live