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Hawaii to share in $127 million lawsuit settlement

By Erika Engle

LAST UPDATED: 6:26 a.m. HST, Jan 31, 2013

Hawaii is among 46 states and the District of Columbia that will share in a $127 million settlement with Lender Processing Services Inc., a provider of integrated technology and other services to the mortgage and real estate industries.

The multi-state agreement with the D.C. and states' attorneys general resolves inquiries surrounding LPS’ default operations, including the former document preparation, verification, signing and notarization practices of certain company operations.

The amount of Hawaii’s share in the settlement was not initially disclosed.

LPS also recently settled securities fraud litigation brought by an employees’ retirement system and American Home Mortgage Servicing Inc.

LPS Chief Executive Officer Hugh Harris said the company looks forward to resolving its remaining regulatory and legal issues “in the near future.”

The company will announce fourth quarter earnings after the markets close Thursday, Feb. 7.

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