Tag Archives: Law Offices of David J. Stern

Fannie Mae and Freddie Mac have instructed their selling agents to move forward with transactions involving foreclosed properties in cases where sales were suspended due to potential problems with the legal paperwork. The GSEs were forced to temporarily halt the sale of certain properties when news surfaced that some of the nation's largest servicers had been employing so-called robo-signers. Now that case reviews have uncovered no evidence of improper foreclosures, Fannie and Freddie are moving to proceed with REO sales.

The Law Offices of Daniel C. Consuegra, P.L. issued a notice this week announcing the firm's addition as a member of the Fannie Mae Retained Attorney Network. The Tampa-based firm is now eligible to represent Fannie Mae in foreclosure and bankruptcy matters in the state of Florida. Fannie Mae de-listed the controversial foreclosure mill the Law Offices of David J. Stern, P.A. from its approved attorney network and instructed its servicers to begin transferring pending cases to other firms earlier this month.

A Citigroup official says the company's review of foreclosure cases has uncovered some 14,000 affidavits that will likely need to be re-filed with the courts. Since the paperwork controversy surfaced and triggered foreclosure suspensions by several major mortgage servicers, Citi has been unwavering in its claims that the foreclosure processes it has in place are ""sound."" The company says for the most part, it has been able to steer clear of the robo-signing mess because of a restructuring that began more than a year ago.

Fannie Mae has issued a notice instructing servicers that have cases at the Law Offices of David J. Stern, P.A. to take immediate action to transfer those matters to other firms in the Fannie Mae Retained Attorney Network in Florida. By November 15, servicers must determine transfer locations for the Fannie Mae matters currently at the Stern firm, notify the new firms, and inform the GSE of the destination for the cases in question.

Freddie Mac announced Tuesday that it has terminated its relationship with the law offices of David J. Stern, P.A. in Plantation, Florida. Fannie Mae, too, says it has suspended business with the so-called Florida foreclosure mill. The Stern law firm is one of the largest in the state, processing thousands of cases a month, and had been retained by both Fannie and Freddie as a preferred legal counsel for its servicers to go to handle pending foreclosures and home repossessions.