Business of Law
‘Like Hamsters in a Cage’: Foreclosure Firm Cut Corners to Make Money, Story Says
Posted Aug 4, 2010 6:05 PM CDT
By Martha Neil
Junk fees, corner-cutting and an indifference to human misery helped a Florida lawyer make a mint in a high-volume foreclosure practice, reports Mother Jones in an unflattering profile of the legal industry enforcing bank mortgage rights.
Largely focusing on attorney David Stern, the lengthy Mother Jones article says one opposing lawyer who visited Stern's office years ago described it as "like hamsters in a cage."
The story doesn't offer much positive comment about Stern, who has been a target of litigation lately, but it does note that he was, in 1998 and 1999, named "Attorney of the Year" by Fannie Mae.
As discussed in a previous ABAJournal.com post, Stern's lawyer, Jeffrey Tew, says his client has done nothing wrong.
Related earlier coverage:
ABAJournal.com: "RICO Suit Seeks Billions from David Stern and His Foreclosure-Mill Law Firm"