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Former Florida mortgage executive pleads guilty to widespread robo-signing

The company, based in Jacksonville, Florida, engaged in the practice known as robo-signing. the firm’s former chief financial officer, took kickbacks for running sham auctions for the investments,

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Nov 20 (Reuters) – A former executive at a mortgage records company pleaded guilty on Tuesday to a scheme to file fraudulent documents used in foreclosures, a rare prosecution of a top-level.

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On Nov. 20, 2012, Brown pleaded guilty to conspiracy to commit mail and wire fraud. Brown was an executive at LPS and the chief executive of DocX LLC, which was a wholly-owned subsidiary of LPS, until it was closed down in early 2010. DocX’s main clients were residential mortgage servicers, which typically undertake certain actions for the.

Nov 20 (Reuters) – A former executive at a mortgage. robo-signing scandal. Lorraine Brown, 56, the former president of LPS Document Solutions, part of Lender Processing Services Inc, pleaded guilty.

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He pleaded not guilty, and his case is pending trial. Firms have pioneered practices like "robo-signing" – whereby employees process thousands of court documents without ever actually reviewing.

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