Investors Admit Criminal Enterprise at David J. Stern Law Firm in Florida

Investors Admit Criminal Enterprise at David J. Stern Law Firm in Florida

By Daniel Edstrom
DTC Systems, Inc.

Note the following from Neil F. Garfield on LivingLies:

Posted on January 5, 2012 by Neil Garfield

EDITOR’S COMMENT: This is the start of what we have been waiting for. Investors who purchased David Stern’s operation — a foreclosure mill that had been bank-rolled literally by the Banks. They actually have the necessary files, documentation and proof needed because they now own the company and they realize they were induced to buy a “criminal enterprise.”

This is what I have been talking about. Investors of all shapes and sizes are starting to awaken to the fact that the entire foreclosure process has been permeated by false statements as to the amounts due, the identity of the creditor, and the documents that “perfected” the lien, transferred the loan and were the basis for foreclosure. None of the foreclosures are real. That is a grandiose statement, but it will prove to be true. Continue reading “Investors Admit Criminal Enterprise at David J. Stern Law Firm in Florida”

Cease & Desist Orders for: Citigroup, HSBC, JP Morgan Chase, MetLife, PNC, SunTrust, US Bancorp and Wells Fargo Bank

Cease & Desist Orders for: Citigroup, HSBC, JP Morgan Chase, MetLife, PNC, SunTrust, US Bancorp and Wells Fargo Bank

By Daniel Edstrom
DTC Systems, Inc.

The latest round of Cease and Desist orders issued by the Office of the Comptroller of the Currency (OCC) are against some of the largest “too big to fail” banks.  Notably missing so far is Deutsche Bank National Trust Company along with Deutsche Bank Trust Company Americas and of course OneWest Bank.

The gist of these Cease and Desist orders is that certain “deficiencies” were found and the banks are operating with “unsafe or unsound” practices in residential mortgage servicing and in the Bank’s initiation and handling of foreclosure proceedings.

We hail the OCC for these efforts, but the problem is following up.  How are the banks going to immediately comply with this order?  They would have to stop processing nearly every single foreclosure they are working on today.

Continue reading “Cease & Desist Orders for: Citigroup, HSBC, JP Morgan Chase, MetLife, PNC, SunTrust, US Bancorp and Wells Fargo Bank”

Foreclosure Mill Law Firms Starting to Meltdown

Foreclosure Mill Law Firms Starting to Meltdown

Dan Edstrom
DTC Systems, Inc.

Foreclosure mill law firm the Law Offices of David J. Stern, P.A. will be ceasing the practice of law with respect to all pending foreclosure matters in the State of Florida.  In an 8-K filing dated March 7, 2011 by DJSP Enterprises, Inc., the following was given:

“Item 8.01 Other Events.

DJSP Enterprises, Inc.’s (the “Company’s”) primary customer, the Law Offices of David J. Stern, P.A., has announced that it will be ceasing the practice of law with respect to all pending foreclosure matters in the State of Florida as of March 31, 2011.  As a result, the Company does not expect to receive any further file referrals from this customer.”

Continue reading “Foreclosure Mill Law Firms Starting to Meltdown”