Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
arkygirl
Wonder what F & F will find if they REALLY look at these files...maybe they will find that they don't own the note at all!

Looks like Stern is done. Bar action coming???

Fannie, Freddie Cut Ties to Law Firm


By NICK TIMIRAOS

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.

Fannie and Freddie said they would begin redistributing the files to other local attorneys in a bid to resume evictions. Last month, the companies suspended all foreclosures that had been referred to the Stern law firm and had directed mortgage servicers, which handle day-to-day loan management, to stop sending new foreclosure and bankruptcy cases to the firm.

Jeffrey Tew, a lawyer for the Stern firm, declined to comment and a spokeswoman for Fannie declined to elaborate.

A spokeswoman for Freddie Mac, Sharon McHale, said it took the rare step on Monday of beginning to remove loan files after an internal review raised "concerns about some of the practices at the Stern firm." She added that Freddie Mac took possession of its files "to protect our interest in those loans as well as those of borrowers."

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.

http://online.wsj.com/article/SB10001424052748704462704575590342587988742.html
Quote 0 0
Millions of Americans are living pay check to paycheck and they include folks working a McDonalds to people who live in 10-million houses.  All it takes is the loss of one paycheck and they are doomed.  Lets just hope Mr. Stern is one of them.  I'd love to see  the servicer of his yacht loan seize the damn thing and someone from a once competing law firm serve an eviction notice on his palace.
Quote 0 0
The crooks have the files! 

Quote 0 0
This mess reads like a John Grisham novel.

Do you think he'll write one about this whole fiasco?

And yeah, they have books!  I'm just wondering which set will be investigated.........
Quote 0 0
Write a reply...