Plea deals in mortgage robo-signing in Fla., Mo.

Associated Press Modified: November 20, 2012 at 8:46 pm •  Published: November 20, 2012
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The criminal charges in Missouri were filed against Brown earlier this year.

Koster said Tuesday he knows of no other senior executive facing a prison sentence because of actions during the country's mortgage crisis. He said Missouri's investigation demonstrated a criminal violation occurred.

Koster, who announced his plea agreement at his office in Jefferson City, said the case sends a signal to the financial services industry.

This summer, the Missouri attorney general's office announced it reached a legal settlement with Lender Processing Services that called for it to pay Missouri $1.5 million and another $500,000 to reimburse for the cost of the investigation.

Lender Processing Services spokeswoman Michelle Kersch said Tuesday that the company immediately stopped the practice when it discovered the surrogate signing, terminated Brown and shut down DocX. She said the company has remediated the documents and cooperated with all governmental investigations.

"LPS is committed to ensuring that all employees operate with integrity and compliance in everything they do on behalf of the company," spokeswoman Michelle Kersch said.

Robert E. O'Neill, the U.S. attorney for the Middle District of Florida, said buying a house is lengthy and intimidating and that consumers rely on others' integrity and due diligence throughout the process.

"When the integrity of this process is compromised, illegally, public confidence is eroded," O'Neill said. "We must work to assure the public that their investments are sound, worthy and protected.

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Associated Press writer Gary Fineout contributed to this report from Tallahassee, Fla.