Lender Processing Services is disputing robo-signing allegations recently made against it and its DOCX LLC subsidiary in a lawsuit filed by American Home Mortgage Servicing Inc. related to the surrogate signing practice at DOCX. “As LPS has previously disclosed, when it discovered the practice at DOCX, LPS immediately notified AHMSI of its discovery of the practice; immediately discontinued the practice; and voluntarily reviewed and remediated assignments of mortgage executed by DOCX using this practice,” LPS said. Once it completed the remediation in January 2010, LPS returned the remediated documents to the attorneys who had originally requested them on AHMSI’s behalf, the company said.

The tough economic and market environment that continues to pound many lenders is also creating opportunities for others, with PennyMac, Carrington and Ocwen among the most noteworthy ready to take advantage of a strong position in the marketplace. PennyMac Mortgage Investment Trust, the real estate investment trust (REIT) run by Stanford Kurland, the former president of Countrywide Financial Corp., plans to triple its mortgage lending through an expansion of its ...