Breaking News Bar
updated: 4/25/2013 6:31 AM

Ill. county recorders to split $3.3M settlement

Success - Article sent! close
Associated Press

Illinois' 102 county recorders will split $3.3 million from the settlement of a national mortgage lawsuit.

Attorney General Lisa Madigan announced the disbursement of funds on Wednesday.

Madigan and 45 other attorneys general reached the settlement with Florida-based Lender Processing Services Inc. in January.

The attorneys general alleged the company used widespread "robo-signing" of mortgage documents to service loans for homeowners at risk of foreclosure. They said an LPS subsidiary took part in "surrogate signing," in which an unauthorized person signed documents in someone else's name.

Madigan says many of those documents were filed in county recorders offices. She says the money will help recorders ensure they are maintaining accurate records.

Madigan says the companies "demonstrated an utter disregard for accuracy and fairness."

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.