UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
April 12, 2011
Lender Processing Services, Inc.
(Exact name of Registrant as Specified in its Charter)
001-34005
(Commission File Number)
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Delaware
(State or Other Jurisdiction of Incorporation or Organization)
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26-1547801
(IRS Employer Identification Number) |
601 Riverside Avenue
Jacksonville, Florida 32204
(Addresses of Principal Executive Offices)
(904) 854-5100
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01. Other Events
On April 12, 2011, we entered into a consent order (the “Order”) with the Board of Governors
of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the
Comptroller of the Currency and the Office of Thrift Supervision (collectively, the “banking
agencies”) in connection with their review of matters relating to the mortgage servicing industry,
including the services provided to mortgage servicers by our DocX and Default Solutions operations.
This review included document execution services we provided to mortgage servicers regulated by
those agencies (“Servicers”). The Order does not make any
findings of fact or conclusions of wrongdoing, nor does LPS admit any
fault or liability. The Order requires further study of the issues identified in the
review and enhancement of oversight, compliance, audit and risk management plans with respect to
those businesses. We will engage an independent third party to conduct a risk assessment and review
of our default management businesses and the document execution services we provided to Servicers from
January 1, 2008 through December 31, 2010. To the extent such review requires additional
remediation of mortgage documents, we have agreed to implement an appropriate plan to address the
issues. The Order does not include any fine or other monetary penalty, although the banking
agencies have not yet concluded their assessment of whether any civil money penalties may be
imposed.