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Nevada attorney general takes settlement, drops fraud case against Lender Processing Services

Nevada is taking a settlement and dropping a consumer fraud case against a mortgage services firm that state Attorney General Catherine Cortez Masto had accused of an illegal "robosigning" scheme.

Masto announced late Friday that the state is accepting $5.5 million from the former Lender Processing Services Inc., plus another $500,000 in attorney fees and costs.

That makes Nevada the 50th state to settle with the company and ends the case Masto launched in December 2011.

Just two weeks ago, a state court judge in Las Vegas sanctioned the attorney general's office and ordered the state to pay what could have totaled hundreds of thousands of dollars in legal costs to the company.

Messages seeking comment were left late Friday for the Jacksonville, Fla.-based company's lead lawyer.