Federal Banking Agencies Fine ServiceLink Holdings $65 Million
January 25, 2017 / Source: OCC
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
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.
Julianne Fisher Breitbeil
Civil Money Penalty (PDF)
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