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Federal Banking Agencies Fine ServiceLink Holdings $65 Million
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Federal Banking Agencies Fine ServiceLink Holdings $65 Million
Federal Banking Agencies Fine ServiceLink Holdings $65 Million
January 25, 2017
Washington, DC - - (January 24, 2017) - - The federal banking agencies today fined ServiceLink Holdings, LLC (ServiceLink Holdings), $65 million for improper actions by its predecessor company, Lender Processing Services, Inc. (LPS), which resulted in significant deficiencies in the foreclosure-related services that LPS provided to mortgage servicers.
The penalty assessed by the three federal banking agencies--the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency--against ServiceLink Holdings satisfied the document review provision of the previous enforcement action. The agencies continue to monitor the company's compliance with other provisions of that order.
The fine will be remitted to the U.S. Treasury.
Information source: Board of Governors of the Federal Reserve SystemPosting comments is disabled.
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