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Fidelity Mortgage - Grand Junction Colorado

Fidelity Mortgage Grand Junction was founded with the philosophy that the customer should always come first in mortgage lending. Since our doors ...

ServiceLink Fined $65M for LPS Robo-Signing Activities

Federal banking agencies have levied a $65 million fine against Fidelity National Financial subsidiary ServiceLink Holdings over deficiencies in the foreclosure-related services provided by its predecessor company.

The fine, assessed by the Federal Reserve Board, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency, satisfies a provision of a previous consent order against Lender Processing Services. The fine will be paid to the U.S. Treasury.

The new agreement assessing the fine replaces portions of an April 2011 order against LPS that forced the company to change how it handled its default management services. While federal banking agencies will continue to monitor compliance with certain aspects of the 2011 order, the new agreement said that the agencies will not take further actions against ServiceLink and its affiliates based on the conduct that precipitated the original order.

LPS had faced accusations for a number of years that the company and its subsidiaries fraudulently signed legal documents used in foreclosure proceedings. Fidelity National acquired LPS in 2014 , and the company's business was split between ServiceLink and Black Knight Financial Services, which is shielded from a fine through an agreement with ServiceLink.

Fidelity Southern Corporation (LION) Upgraded at Zacks Investment ...

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, February 3rd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, February 1st. Fidelity Southern Corporation’s payout ratio is 32.21%.

In related news, Director William C. Lankford, Jr. sold 5,334 shares of the company’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $24.46, for a total value of $130,469.64. Following the transaction, the director now directly owns 7,930 shares of the company’s stock, valued at approximately $193,967.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink . Also, Director Donald A. Harp, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $22.54, for a total value of $225,400.00. Following the completion of the transaction, the director now directly owns 33,262 shares in the company, valued at $749,725.48. The disclosure for this sale can be found here . Over the last three months, insiders sold 30,502 shares of company stock worth $720,694. 19.93% of the stock is owned by insiders.

Fidelity Mortgage sells a mortgage on Doug's home to Enterprise Bank.Enterprise erroneously pays the real esta

te taxes on the home. When Enterprise demands reimbursment, Doug refuses, arguing that no contract exists that obligates him to reimburse the bank. What legal theory might Enterprise use to get its money from Doug?

Was there an escrow account set up for taxes in the original loan with Fidelity? If not, chances are Doug also paid the taxes to the county unless Enterprise brought it to Doug's attention that they had already paid them.