Freddie mac and Fannie Mae seized thousands of foreclosure files from the David Sterns office in Brward County this week.
David Sterns law practice on the east coast of Florida has been one of the biggest firms processing thousands of Florida Foreclosure cases over the past few years. Freddie and Fannie had enough about the obvious shortcuts taken by the firm, and seized thousands of files from their office this week to review them for possible errors.
Well hallelujah! I too am glad to see them step in and try to straighten out this mess...I'd hate to be David Sterns right now, lol. Karma. Gotta love it :)
So when are Freddie nd Fannie going to stop foreclosing in the middle of loan mods and short sales?
I have followed this matter closely and have written many blogs about this foreclosure debacle.
While I am pleased to see this mill put in its place, I do feel for the more than 700 employees who have been laid off so far. They were not complicite in these crimes necessarily but the greed of David Stern will be felt by many for a long long time.
I agree with Marcy. When are Freddie and Fannie going to stop foreclosing in the middle of loan mods and short sales. I had 2 that got foreclosed on while I had their approval (written) for the short sales. What a mess they are.
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