ServiceLink Holdings LLC fined $65M for foreclosure-related violations

The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency have jointly announced they have issued an Amendment of Consent Order and Consent Order for Civil Money Penalty Assessment against ServiceLink Holdings, LLC (ServiceLink), of Jacksonville, Florida, as successor to Lender Processing Services, Inc. (LPS), also of Jacksonville, DocX, LLC, of Alpharetta, Georgia, and LPS Default Solutions, Inc., of Mendota Heights, Minnesota, ordering ServiceLink to pay a civil money penalty of $65 million.

The assessment was made for "improper actions" by LPS, which "resulted in significant deficeinces in the foreclosure-related services that LPS provided to mortgage servicers."