Wednesday, March 09, 2011

Andy Kroll: "Foreclosure King David Stern Shutters Law Firm" @ Mother Jones


... But last fall, the business empire that allowed Stern to live like a king began to crumble. Days after Mother Jones published my investigation into Stern and the world of foreclosure mills, the Florida attorney general announced a probe into Stern's firm and two others to determine whether "improper documentation may have been created and filed with Florida courts to speed up foreclosure processes, potentially without the knowledge or consent of the homeowners involved." It's all been downhill since then for Stern: Fannie and Freddie dropped him from their "designated counsel" program, and many big banks and mortgage servicing companies stopped hiring his firm. Citing MoJo's reporting, members of Congress demanded investigations into why Fannie and Freddie ever did business with Stern's firm and others like it. Soon, no one, it seemed, wanted to do business with the Law Offices of David J. Stern. ...

[Read of the complete investigative at Mother Jones.]

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