The GSEs, Fannie Mae and Freddie Mac, have finally fired the foreclosure mill and forged document factory that is the law offices of David J. Stern:
Fannie Mae and Freddie Mac terminated their relationships with a top Florida foreclosure attorney on Tuesday, one day after the companies began taking back loan files from the firm that has processed thousands of evictions on behalf of the mortgage-finance giants.
Fannie and Freddie dispatched employees on Monday afternoon to begin removing loan files from the law offices of David J. Stern in Plantation, Fla. Those files are needed to process foreclosures, which must be done through courts in Florida.
………
The Stern law firm has been at the center of allegations by the Florida attorney general’s office of improper foreclosure practices and is one of four firms under state investigation. The office has released depositions of former law-firm employees who have alleged that the firm forged notarized documents and that employees signed files without reviewing them in an effort to speed through foreclosure filings.
In those depositions, former employees testified that the firms would go to great lengths to conceal improper practices during regular audits by Fannie and Freddie. A lawyer for Mr. Stern has dismissed the allegations as falsehoods made by disgruntled employees.
Well, it’s a start, though even the most tepid investigation of foreclosure fraud, which is all what Barack Obama would do, is sure to be sabotaged by the new Republican majority in the house, because:
- They will favor the banks even when they break the law because laws are for little people.
- They favor the Andrew Mellon school of dealing with the economy, foreclosure, and the financial crisis. As Hoover’s Treasury secretary, he suggested, “Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.”
So all that Daniel J. Stern, Esq. will see is a few bucks less profit, as opposed to disciplinary action from the bar or a criminal investigation.
Nothing to see, move along.