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UPDATE 1-LPS names Joe Jacquot to handle government affairs
June 13, 2011 / 2:15 PM / 6 years ago

UPDATE 1-LPS names Joe Jacquot to handle government affairs

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June 13 (Reuters) - 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 company.

LPS said Jacquot’s extensive legal and legislative experience will help LPS maintain “effective” governmental relationships.

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 Geoghegan)

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