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Mortgage Exec Sent to Prison in Foreclosure Robo-Signing Case

houselogic.comJuly 5, 2013

A Florida mortgage company executive has been sentenced to a five-year prison term for her role in the foreclosure robo-signing scandal after pleading guilty to conspiracy to commit mail and wire fraud, according to the U.S. Justice Department.

Senior U.S. District Judge Henry Lee Adams Jr. sent former Lender Processing Services Inc. executive Lorraine Brown, 56, of Alpharetta, Ga., to prison for her participation in a six-year scheme to prepare and file more than one million fraudulently signed and notarized mortgage-related documents with property recorders’ offices throughout the United States.

Brown was an executive at LPS and the chief executive of DocX LLC, an LPS subsidiary that prepared foreclosure case paperwork. In her plea agreement, Brown admitted to directing employees of DocX to forge and falsify signatures of authorized personnel on mortgage-related documents.

Only specific personnel at DocX were authorized by clients to sign the documents. DocX employees fraudulently notarized documents that weren’t actually executed by authorized DocX employees.

According to plea documents, Brown used robo-signing so the company could execute and file larger volumes of documents and make more money. To further increase profits, DocX hired low-cost temporary workers as authorized signers. 

Some of these temporary workers signed thousands of mortgage-related instruments a day. Between 2003 and 2009, DocX generated approximately $60 million in gross revenue.

After these documents were falsely signed and fraudulently notarized, Brown authorized DocX employees to file and record them with local county property records offices across the country.

Many of these documents were later relied upon in court proceedings, including property foreclosures and federal bankruptcy actions. Brown admitted she understood that property recorders, courts, title insurers, and homeowners relied upon the documents as genuine.

LPS agreed to pay $35 million in criminal penalties and forfeiture to address its role in the robo-signing scheme.

 

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