Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Bill
Lots of interesting allegations in this suit. 


http://www.scribd.com/doc/55873659/City-of-St-Clair-Shores-Employees-Retirement-System-v-LPS-et-al-Amended-Complaint-May-18-2011
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This was the same plaintiff's law firm that was involved with Enron, they are top shelf.  Mike Cash (LPS Attorney)will have his hands full with defending LPS.  
 
I'm waiting for another suit to filed against Litton Loan shortly.  Maybe today.  The biggest plaintiff's law firms are now coming into this fight, I know many of us have waited a long time for this to finally occur.
 
 
 
 
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NYE,  Im starting to feel better now!  Not great yet, but much better, this has been a very long road.  Im sure you feel it too.  Good Job!
 
Gary
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Moose
Hmmmm - as fascinating and revealing as the suit is, it's investors in a predator trying to cover their greedy/opportunistic butts:

From page 59 - 113:
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Moreover, Defendants knew or should have known of the Company’s illicit practices from the constant media scrutiny, various government investigations, and litigation that addressed these practices throughout the Class Period.


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269. As stated above in Section VII, the true picture of the pervasive illicit practices at LPS and the Company’s true financial condition was not revealed to the market all at once. Rather, the true picture of LPS’ illicit business practices began to emerge on April 16, 2009, after the market closed, when the market learned that the Department of Justice was looking into the legitimacy of the Company’s business practices, including its relationships with attorneys,


So if we are to believe this group, they were completely ignorant about LPS practices until April of 2009.

Hmmmm - the suit defines the class period as:
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all persons or entities who purchased or acquired shares of LPS between August 6, 2008 and October 4, 2010, inclusive


So they weren't aware - or were they?  We know what LPS/DocX has been doing and for whom - why didn't they?
See:
msfraudposts

Frankly, I think investors in predatory companies deserve whatever happens to them.

I hope the suit proceeds and the plaintiffs prevail and are awarded $0.00 + their attorney's fees and court costs.

Moose




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