In the age of 'robo-signing' and other witty phraseology, a new term has arisen and it may be central to a recent lawsuit filed against Lender Processing Services (LPS) by American Home Mortgage Servicing, Inc. (AHMSI). AHMSI alleges they've faced millions of dollars in losses that were incurred when DocX, an LPS affiliate, acted improperly in processing and recording nearly 30,000 mortgages. Central to the case is DocX's alleged use of "surrogate signers."
AHMSI hired DocX to process and record lien releases, mortgage assignments and other documents for AHMSI from 2008 until late 2009. It was at that time LPS informed AHMSI that the "surrogate signers" signed thousands of documents instead of the actual officers AHMSI originally scheduled to do the work. AHMSI immediately fired DocX upon learning of the problem.
Since the debacle, AHMSI has undertaken a large-scale remedial effort focused on correcting the assignments in question. These efforts include many legal issues and problems that span the Country, and of course substantial expense for AHMSI. LPS does not deny the surrogate signed documentation but instead insists they should not be penalized as they curbed the practice upon its discovery and offered AHMSI reimbursement for costs. AHMSI says such discussions have been unsuccessful, however.
The above situation outlines the importance of hiring well and what can happen when one does not. So remember, if you are facing the realities of foreclosure, contacting a or Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer can be in important first step in defending your home.
