Just like we predicted, the US Government is finally taking a look at one of the Nationals. Senator Ron Wyden, D-OR, recently wrote the US Attorney General and requested an investigation into the double billing practices. The letter alleges that LPS used fee structures that resulted in the double billing of homeowners and/or mortgage investors for legal services related to the processing of foreclosures and bankruptcies.
According to the Wall Street Journal Online,
It also says that the firm’s business model may have been responsible for sowing what became known as “robo-signing,” where bank attorneys and paralegals improperly signed off on foreclosures.
The time has come ladies and gentlemen to clean out the closet and begin doing business in a legal way; a way in which both Clients and Contractors both benefit by playing by the rules. Folks, this is the tip of the iceburg!