LPS Default Solutions

When Banks Outsource Foreclosures, Nothing Good Happens

A Louisiana bankruptcy case involving a single foreclosure best illustrates the problems with the banks' outsourcing their mortgage default work to firms like LPS. The result of this money-saving maneuver by banks winds up costing everyone else dearly.

Are Attorneys Illegally Outsourcing Foreclosure Work?

Two foreclosure middlemen, LPS Default Solutions and Prommis Solutions, are accused of illegally paying non-attorneys to practice law so banks and law firms could save on document filing costs. It's more than a money issue -- the errors these rushed non-attorneys are making may lead to another messy stage of the mortgage meltdown.