Law Offices Of David Stern Have Documents Seized By Fannie, Freddie

WASHINGTON — Mortgage buyers Fannie Mae and Freddie Mac are revoking thousands of foreclosure cases from a Florida law firm under investigation for falsifying documents used to complete foreclosures.

Both companies say they have started transferring those documents from the Law Offices of David Stern to other firms.

The Stern firm has been under investigation by the Florida attorney general's office. A former employee has said in testimony that an office manager would sign as many as 1,000 documents a day without reading them and without witnesses present.

Jeffrey Tew, an attorney for Stern's firm, declined to comment.

Fannie and Freddie's actions were reported earlier by the Wall Street Journal.

Comments

[USNDC]

07:12 AM on 11/03/2010

Fannie Mae & Freddie Mac are at the center of this foreclosure crisis.

Their company ... MERS ... is involved in nearly every securitized mortgage loan.

This is why Obama won't get involved in these legal abuses surrounding the foreclosure crisis ... because the government's Fannie Mae & Freddie Mac are involved in nearly every case !

The structural defects discovered in the mortgage securitization process ... including MERS ... threaten Fannie Mae & Freddie Mac.

[OSCPJ]

05:38 PM on 11/02/2010

Another horrible HP Title. Feddie and Frannie can't seize anything.

[Bluemax1]

04:42 PM on 11/02/2010

David Stern who made 44 million in profits last year had been one of the top rated lawyers by Fannie Mae. They funneled his foreclosure mill hundreds of files per week. At least the wheels of justice are finally turning.