Federal Banking Agencies Fine Servicelink Holdings $65 Million

FDIC Subscriptions sent this bulletin at 01/24/2017 04:08 PM EST

 

Press Release

Joint Release Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency

 

For Immediate Release January 24, 2017

Federal Banking Agencies Fine Servicelink Holdings $65 Million

WASHINGTON—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.

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Attachments:
Civil Money Penalty
Media Contacts:
FDIC Julianne Fisher Breitbeil (202) 898-6895
Federal Reserve Eric Kollig (202) 452-2955
OCC Stephanie Collins (202) 649-6870

FDIC: PR-06-2017

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