David J. Stern law offices will be closing at the end of the month[1]. The Florida-based law firm that was squarely at the heart of much of the brouhaha surrounding the robo-signing fiasco and associated investigations of foreclosure mismanagement has announced that it will cease foreclosure law practice at the end of the month[2]. DJSP Enterprises, Inc., one of David Stern’s affiliate companies, has announced that it expects to receive “no further referrals from Stern” and has laid off much of its processing, servicing and title operations workforce.
Last year, Fannie Mae and Freddie Mac stopped doing business with Stern – meaning that they stopped having the law office handle their foreclosure proceedings. The law office is currently under investigation by the Florida attorney general’s office, and David Stern, himself, is reported to be selling off luxury assets like homes and yachts. He resigned last November as chief executive of DJSP.
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[1]http://www.abajournal.com/news/article/law_firm_of_fla._foreclosure_king_to_close_it_and_affiliated_company_once_h/
[2] http://www.reuters.com/article/2011/03/07/us-mortgages-florida-stern-idUSTRE7262PI20110307?feedType=RSS&feedName=domesticNews
