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Fri February 1, 2013
State to get millions from mortgage company
LANSING, MI (AP)-- Michigan Attorney General Bill Schuette has reached a civil settlement with a mortgage document processing company accused of "robo-signing."
Schuette announced Thursday that Michigan will receive $2.5 million from now defunct DocX and its parent company Lender Processing Services Inc.
In an April 2011 investigation, Schuette found former DocX President Lorraine Brown had instructed employees to forge signatures on mortgage documents. Schuette's office says DocX wanted to quickly process documents and bring in more money for the company.
The attorney general's office says that more than 1,000 Michigan documents were affected by the scheme. The settlement includes the estimated profits the company made in the scheme in Michigan.
In November 2012, Schuette also brought criminal charges against Brown for racketeering. The charge can bring up to 20 years in prison.