PORTLAND — Attorney General Ellen Rosenblum says Oregon will get $3 million in a national settlement of claims against a mortgage processing company.
The state was one of 46 as well as the District of Columbia that agreed to the settlement with Lender Processing Services over practices that included the “robo-signing" of foreclosure documents without properly reviewing documents.
The states said the company wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.
The total settlement amounted to $121 million.
Under the settlement, the company will be required to reform its business practices and to correct foreclosure documents as necessary. The agreement prohibits unauthorized people or those without first-hand knowledge of the facts laid out in documents to sign them.
Rosenblum issued a statement Thursday that said the company provides mortgage loan processing and other services to some of the largest banks in the country, and after the housing bust, foreclosure became a big part of its business.