Foreclosure King Falls from Grace

foreclosure king
foreclosure king

They called him the foreclosure king. One man and his "foreclosure mill" were responsible for hundreds of thousands of Florida's residential foreclosures during a four-year period as lenders such as Citigroup, Bank of America, and GMAC, sent its mortgage default cases to the law offices of David J. Stern.

Freddie Mac and Fannie Mae, the latter of whom named him Attorney of the Year two years running, also hired David Stern, initially turning a blind eye to inconsistencies in notarized documents that hailed from his marble-floored headquarters near Miami. Now the banished 50-year-old Stern, after building a nearly $300 million business, is an outcast in hiding with possibly no remorse for the lives of thousands whose homes were fraudulently rubber stamped away from them.