WOODSTOCK – McHenry County will receive more than $75,000 as part of a $3.3 million national settlement, according to the McHenry County Recorder’s Office.
The settlement was reached by the Illinois Attorney General’s Office, other attorney generals from around the country and Lender Processing Servicing regarding fraudulent practices in foreclosure proceedings.
It ends an intensive investigation into the company’s “robo-signing” of mortgage documents and other fault practices, according to a news release.
As a part of the settlement, Lending Processing Services agreed to a number of requirements to reform its business practices, such as eliminating all signing off on mortgage documents with the signatures of unauthorized people or people without firsthand knowledge of facts attested to in the documents, the news release states.
– Lawerence Synett