With Foreclosure Co. Layoff Tally at 900, Lawyer David Stern Doffs CEO Hat, Returns to Law Firm
Posted Nov 22, 2010 09:36 pm CST
The layoff tally has now reached 900 at a mortgage foreclosure processing company hard-hit by an onslaught of client departures after questions were raised about the validity of its paperwork.
Meanwhile, the South Florida attorney formerly at its helm, David Stern, has stepped down as of Friday from his former job as president and chief executive of DJSP Enterprises and will simply be focusing on practice at his law firm, reports the Daily Business Review in an article reprinted in New York Lawyer (reg. req.).
ABAJournal.com: “‘Like Hamsters in a Cage’: Foreclosure Firm Cut Corners to Make Money, Story Says”
ABAJournal.com: “Law Firm, Paid for Volume, Had 12 People Handling 12,000 Foreclosures at Once”
ABAJournal.com: “Stern’s Law Firm & Related Co. Cut Staff By 70% After Fannie and Freddie Pull Foreclosure Files”