David J. Stern launches legal battle against nation’s biggest mortgage servicers

Foreclosure king no more, David J. Stern is fighting back against former clients whose business once elevated him to one of the richest and most well-known default services lawyers in the country. The fight is taking place largely in state and federal courtrooms via 25 lawsuits where Stern alleges that the biggest names in the mortgage industry owe him more than $34 million in unpaid invoices.

By Russ, aka Attempter, a sustainability activist trying to help figure out solutions to America’s crisis, who blogs at Volatility As Foreclosuregate, the legal crisis, looms ever larger and becomes a major political issue, the banks and government have scrambled to mount a counteroffensive against the consequences of their crimes.

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The case of Florida Bar v. David J. Stern just reached its next-to-last step, as the judge presiding over the hearing recommended disbarment. The report is scathing. Read it for yourself: Florida Bar v. David J. Stern: Report of Referee [.]

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Stern “was approved by the GSEs during the time in which it was retained by Citi,” the bank said. Lawmakers, attorneys general and consumer groups have pressed mortgage firms to follow Bank of America Corp., the biggest U.S. lender, which last week suspended all foreclosures to check whether faulty documents were used to confiscate homes.

FLORIDA ATTORNEY GENERAL LAUNCHES CRIMINAL INVESTIGATION OF LAW OFFICES OF DAVID J. STERN, P.A., MARSHALL WATSON, P.A. AND SHAPIRO & FISHMAN, P.A. The Economic Crimes Division of the office of the Florida Attorney General has announced today the launching of a criminal investigation of the Law Offices of David J.

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The trusts holding these loans are in a legal gray area, as the mortgage titles were never officially transferred to the trusts. The result of this is foreclosure fraud on a massive scale, including foreclosures on people without mortgages or who are on time with their payments.