By Drew Harwell, Times Staff Writer |
“In a landmark robo-signing case, a former executive of a Jacksonville mortgage-processing giant faces up to five years in prison after pleading guilty to orchestrating years of fraudulent foreclosure documents, according to a plea deal filed Tuesday in Jacksonville federal court.
Lorraine Brown, who headed a Georgia processing firm, DocX, that earned tens of millions of dollars off the foreclosure crisis, admitted to coaching employees to falsify signatures in order to speed up foreclosures and boost the firm’s profits.
DocX, a subsidiary of Jacksonville-based Lender Processing Services, was closed in 2010 after evidence of the fraudulent practices came to light.
But the firm’s filings, which prosecutors said totaled more than 1 million forms between 2003 and 2009, still serve as the official backbone for bankruptcies, court proceedings and foreclosures in Tampa Bay and across the country.
Brown, who was charged with conspiracy to commit mail and wire fraud, was one of the first executives hit with a criminal indictment tied to the robo-signing scandal.
She faces a maximum sentence of up to five years in prison and a fine of up to $250,000. Her sentencing date has not been set.”