JACKSONVILLE, Fla. – (April 17, 2009) – Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology and services to the mortgage industry, offered the following clarifications to some of the many inaccuracies in an article that was published by Dow Jones Bankruptcy Review.
LPS is not aware, nor has it been informed, that it is the subject of a formal investigation by the Department of Justice. Certain regional U.S. Trustees Offices, which are statutorily charged with oversight of the bankruptcy process, have inquired about the manner in which LPS's proprietary technology and services are used during bankruptcy and foreclosure proceedings.
LPS has voluntarily cooperated with the U.S. Trustees Offices with respect to these inquiries. The Honorable Diane Weiss Sigmund issued an opinion on April 16, 2009, with respect to the Niles C. Taylor and Angela J. Taylor proceeding, in which the activities of the participants in the case were reviewed. LPS was not a party to this case. LPS, however, voluntarily demonstrated the use of its system for Judge Sigmund and provided all information requested by the U.S. Trustees Offices in connection with this case. In Judge Sigmund's opinion issued at the conclusion of the proceeding, Judge Sigmund stated that LPS was not responsible for any errors in the conduct of the case.
About Lender Processing Services
LPS is a leading provider of integrated technology and services to the mortgage industry. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, portfolio retention, risk management and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages are serviced using LPS’ MSP. In fact, many of the nation's top servicers rely on MSP, including seven of the top 10 and 16 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com.
Media Contact: Michelle Kersch, 904.854.5043, michelle.kersch@lpsvcs.com
Investor Contact: Parag Bhansali, 904.854.8640, parag.bhansali@lpsvcs.com