Wednesday, March 02, 2011

Lender Processing Services’ 10K Lists DOCX as Subsidiary as of January 31, 2011

Per Lender Processing Services (LPS) press release dated 12/10/2010 responding to a Reuters article that LPS, apparently, found to be unfair:

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“Instead of casting blame on LPS, your reporter might more fairly have explained that LPS – on its own – uncovered and corrected deficiencies in practices that took place at a former business unit called DocX. LPS not only shut down the DocX operation….”

“As was made clear to the reporter with whom LPS’ representatives spoke, documents signed in other divisions of LPS, such as its Default Solutions division, were prepared by attorneys hired by the servicers, were signed by employees with proper signing authority and there was no delegation of signing authority from one employee to another, as was the case at the DocX operation before it was shut down.”

Yet, in the LPS 10K filing with the SEC today (March 1, 2011), LPS is still reporting Docx as one of its Georgia-based subsidiaries:


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