June 13 Mortgage processing services provider
Lender Processing Services Inc named former Florida
Deputy Attorney General Joe Jacquot as its senior vice-president
for government affairs.
Jacquot, who served as Florida's deputy attorney general for
the last 5 years, will be responsible for analyzing and
responding to pending legislation and regulation affecting the
LPS said Jacquot's extensive legal and legislative
experience will help LPS maintain "effective" governmental
LPS, which handles more than half of U.S. mortgage
foreclosures, faces various legal and regulatory issues, mainly
over its alleged role in wrongful foreclosure practices.
It recently entered into a consent order with the Federal
Reserve, Office of the Comptroller of the Currency and the
Office of Thrift Supervision, related to services provided to
mortgage servicers by its DocX and Default Solutions operations.
Last month, the Federal Deposit Insurance Corp filed a
complaint to recover losses of $154 million from an alleged
breach of contract by an LPS unit with Washington Mutual Inc
In its most recent quarterly filing, LPS said various state
and federal authorities, including the U.S. Attorney's office
for the Middle District of Florida and the Florida Attorney
General, had been conducting separate enquiries into certain
processes in its default operations.
Last year, LPS hired Paul McNulty, a former U.S. Attorney
General in the George W. Bush administration, to conduct an
independent review of certain practices at its DocX operation.
(Reporting by Brenton Cordeiro in Bangalore, Editing by Ian