- Affiliate of Once-Mighty Foreclosure Firm Lays Off 96 More Workers, May Close Within 60 Days
Affiliate of Once-Mighty Foreclosure Firm Lays Off 96 More Workers, May Close Within 60 Days
Posted Feb 15, 2011 2:43 PM CST
By Martha Neil
Once a massive back office for Florida's busiest mortgage foreclosure law firm, DJSP Enterprises appears to be on its last legs.
Another 96 layoffs there were announced today, bringing the total tally of workers laid off since last fall to approximately 1,000, reports the South Florida Sun-Sentinel.
At one point, along with the Plantation law offices of David J. Stern, the company reportedly was handling nearly 70,000 foreclosure cases annually and it reportedly grossed $260 million in 2009.
A layoff notice said further terminations may occur at DJSP Enterprises within the next two months and that the company may also cease operations during that period.
"Obviously, this is a difficult time for the business," a company spokesman told the newspaper.
Additional and related coverage:
ABAJournal.com (July 2010): "RICO Suit Seeks Billions from David Stern and His Foreclosure-Mill Law Firm"
ABAJournal.com (Nov. 2010): "Stern’s Law Firm & Related Co. Cut Staff By 70% After Fannie and Freddie Pull Foreclosure Files"
ABAJournal.com: "Selling Foreclosure Firm’s Back Office Earned $60M for Attorney David Stern"
ABAJournal.com: "Judge Axes Foreclosure, Bans Do-Over, Holds Lawyer in Contempt; Fannie Mae Pulls Files from Firm"