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LPS names Joe Jacquot to handle government affairs
 

REUTERS — 7 MINUTES AGO
June 13 (Reuters) - Mortgage processing services provider Lender Processing Services Inc (Symbol : LPS ) named former Florida Deputy Attorney General Joe Jacquot as its senior vice-president for government affairs.

Jacquot, who served as Florida's deputy attorney general for the last 5 years, will be responsible for analyzing and responding to pending legislation and regulation affecting the company.

LPS said Jacquot's extensive legal and legislative experience will help LPS maintain "effective" governmental relationships.

LPS, which handles more than half of U.S. mortgage foreclosures, faces various legal and regulatory issues, mainly over its alleged role in wrongful foreclosure practices.

It recently entered into a consent order with the Federal Reserve, Office of the Comptroller of the Currency and the Office of Thrift Supervision, related to services provided to mortgage servicers by its DocX and Default Solutions operations.

Last month, the Federal Deposit Insurance Corp filed a complaint to recover losses of $154 million from an alleged breach of contract by an LPS unit with Washington Mutual Inc (Symbol : WAMUQ ) .

In its most recent quarterly filing, LPS said various state and federal authorities, including the U.S. Attorney's office for the Middle District of Florida and the Florida Attorney General, had been conducting separate enquiries into certain processes in its default operations.

Last year, LPS hired Paul McNulty, a former U.S. Attorney General in the George W. Bush administration, to conduct an independent review of certain practices at its DocX operation. (Reporting by Brenton Cordeiro in Bangalore, Editing by Ian Geoghegan)
 

://news.fidelity.com/news/news.jhtml?articleid=201106131012RTRSNEWSCOMBINED_L3E7HD1TK_1&IMG=N&ccsource=rss-economy

UPDATE 1-LPS names Joe Jacquot to handle government affairs

http://uk.reuters.com/article/2011/06/13/...uot-idUKL3E7HD1TK20110613

June 13 (Reuters) - Mortgage processing services provider Lender Processing Services Inc named former Florida Deputy Attorney General Joe Jacquot as its senior vice-president for government affairs.

Jacquot, who served as Florida's deputy attorney general for the last 5 years, will be responsible for analyzing and responding to pending legislation and regulation affecting the company.

LPS said Jacquot's extensive legal and legislative experience will help LPS maintain "effective" governmental relationships.

LPS, which handles more than half of U.S. mortgage foreclosures, faces various legal and regulatory issues, mainly over its alleged role in wrongful foreclosure practices.

It recently entered into a consent order with the Federal Reserve, Office of the Comptroller of the Currency and the Office of Thrift Supervision, related to services provided to mortgage servicers by its DocX and Default Solutions operations.

Last month, the Federal Deposit Insurance Corp filed a complaint to recover losses of $154 million from an alleged breach of contract by an LPS unit with Washington Mutual Inc . 

In its most recent quarterly filing, LPS said various state and federal authorities, including the U.S. Attorney's office for the Middle District of Florida and the Florida Attorney General, had been conducting separate enquiries into certain processes in its default operations.

Last year, LPS hired Paul McNulty, a former U.S. Attorney General in the George W. Bush administration, to conduct an independent review of certain practices at its DocX operation. (Reporting by Brenton Cordeiro in Bangalore, Editing by Ian Geoghegan)

(Follows alerts)

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LG

Nico

Während wir darauf warten, dass von JPM Geld nach Wamu abfließt, wetten andere darauf, dass JPM in nächster Zeit nochmal kräftig zulegt....

by J. Royden Ward, editor Cabot Benjamin Graham Value Letter

This month, we are unveiling a new feature in our Cabot Benjamin Graham Value newsletter. Many of you send emails asking me to choose my best stock.

Our new "My Favorite Stock" feature, is chosen from our model portfolios. And my first such pick is JP Morgan Chase (JPM : 41.27, 0.21).

JPMorgan is one of the largest ?nancial service ?rms in the world with banking operations in more than 60 countries.

The company has about 240,000 employees worldwide and is a leader in investment banking, ?nancial services for consumers and businesses, financial transaction processing and asset management.

In 2008, JPMorgan purchased Bear Stearns for $1.5 billion and Washington Mutual for $1.9 billion. In 2010, JPMorgan added commodities trading ?rm RBS-Sempra for $1.6 billion.

JPMorgan fell sharply during the 2008 ?nancial crisis, but an alert management team led by renowned CEO Jamie Dimon generated a remarkable turnaround.

Earnings per share (EPS) jumped 36% during the past 12 months and will likely increase 12% during the next 12 months.

The company's mortgage business continues to lose money, but loan losses from all sources, including car loans, showed substantial improvement.

JPM shares sell at a 17% discount to book value, and the recently increased dividend provides a very adequate 2.4% yield.

We expect the company's $5.0 billion acquisition splurge to produce better than expected earnings during the next 12 months.

JPM's stock price will likely reach our Minimum Sell Price of 70.66 within two to three years. JPM is medium risk.

http://www.istockanalyst.com/finance/story/5224761/jp-morgan-chase-my-favorite-stock