"Bogus Assignee" & "Bad Bene" Used As Innocent Placeholders, Regrets Error, Says LPS CEO In Response To Media Report; Addresses Dubious Notarizations

Jeff Carbiener, president and CEO of Lender Processing Services in Jacksonville , Florida writes in The Florida Times Union:

• LPS is very involved in the Jacksonville community and highly values its role and reputation as a good corporate citizen. Therefore, I believe it is vitally important to provide clarification to the May 14 article in The Florida Times-Union, "Florida Investigating 'Bogus' Foreclosure Records."

• The article discusses LPS' subsidiary, Docx LLC, which provided a document preparation service to its customers and/or their attorneys from 2008 to 2009. [...] When preparing the documents, if specific pieces of information were not provided by the customer or attorney, Docx used the phrases "Bogus Assignee" and "Bad Bene" as highly visible placeholders that would then be replaced when the missing information was provided to Docx.

• Unfortunately, on a few occasions, documents containing the placeholder phrases were inadvertently recorded before the field was updated. While to our knowledge, none of these documents have been used in actual court proceedings, LPS deeply regrets this error.

For more, see Reply: Mortgage documents: Placeholder items were innocent.