FANNIE, FREDDIE ENDS RELATIONSHIP WITH FLORIDA LAW OFFICES OF DAVID J. STERN

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FANNIE, FREDDIE ENDS RELATIONSHIP WITH FLORIDA LAW OFFICES OF DAVID J. STERN

FANNIE, FREDDIE ENDS RELATIONSHIP WITH FLORIDA LAW OFFICES OF DAVID J. STERN

Fannie, Freddie Take Loan Files From Florida Law Firm

Fannie Mae and Freddie Mac have terminated their relationships with a top Florida foreclosure law firm and began taking possession of loan files on Monday afternoon from the firm, which processes evictions on behalf of the mortgage-finance giants.

Fannie and Freddie had previously suspended all foreclosures that had been referred to the law offices of David J. Stern in Plantation, Fla., a suburb of Fort Lauderdale.

Freddie Mac took the rare step of removing loan files after an internal review raised “concerns about some of the practices at the Stern firm,” a Freddie spokeswoman said.

“We have begun taking possessions of all files on Freddie Mac mortgages simply to protect our interest in those loans as well as those of the borrowers,” the Freddie spokeswoman said. A Fannie spokeswoman declined to elaborate.

Fannie and Freddie said they will move those files to other law firms in the state but that they hadn’t yet identified where they would be redistributed. The firms said they had notified Florida’s attorney general about the decision to remove the files and that the Stern firm had cooperated with the action.

A lawyer for Mr. Stern didn’t immediately respond to inquiries.

Scribd

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6 Responses to “FANNIE, FREDDIE ENDS RELATIONSHIP WITH FLORIDA LAW OFFICES OF DAVID J. STERN”

  1. willy says:

    Gee The FRAUD In HAMP Is Coming Out?

    Yep.

    HAMP was a scam and a fraud. It was designed to induce people to default on their loans on purpose in order to get a modification.

    But the modification was “optional” (helped along in many cases by intentionally losing documents sent through certified mail!) and as such the banks did exactly that.

    Now we have judges – finally – pushing back and recognizing the inherent fraud in that scam.

    A scam hatched by The Federal Government and Treasury in collusion with the banks.
    http://market-ticker.org/akcs-www?post=170996

  2. MSJ says:

    HA HA HA HA…….Good for them. Had not the fraud been discovered they would had kept doing business as usual. But they were caught and that’s the only reason why they’re disattaching themselves from this scam and ponzi scheme they were involved in from the beginning.

  3. IRIS IN FLORIDA says:

    MSJ I AGREED WITH YOU JUST BECAUSE THEY DISCOVERED FRAUD, NOW ARE FAKING THEY ARE TAKING ANOTHER ROUTE, BUT IN REALITY LAWYERS-AS WELL AS JUDGES-DEPUTTY CLERKS-SHERIFFS DEPARTMENT-REALTORS THEY ALL WERE CONSPIRING AGAINST BORROWERS, UT WHATEVER COMES AROUNG GOES AROUND, THEY CAN TRY TO PUT IT THE NICEST WAY BUT THEY WON’T SUCCEED IT IS RIDICOULOUS THAT THIS IS HAPPENING IN AMERICA THE SO CALL FREE NATION IN THE WHOLE WORD.

    JAJAJAJAJAJA

  4. Mary says:

    UCC FINANCING STATEMENT
    Secretary of State of Iowa
    Debtor’s Exact Full Legal name Wells Fargo Bank NA ?, (& Fannie Mae) 9/19/2007
    Mailing Address:
    1 Home Campus, Des Moines, IA 50328 USA
    Type of organization: National_Association ?
    Jurisdiction DC ?
    Organizational ID: 1741
    ?…DBA Wells Fargo Home Mortgage Institutional Lending?

    SECURED PARTY’S NAME: Federal National Mortgage Association
    (aka Fannie Mae)
    3900 Wisconsin Ave, NW, Washington DC 20016

    The collateral (the “Collateral”) that is the subject of this Financing Statement is as follows:
    (i) All those “Loans” (as defined below) that Debtor (“Lender”) has assigned, transferred, and/or sold (collectively “transferred”, “transfers”, or “transfer” as appropriate) previously to Secured Party (“Fannie Mae”) in the “Transactions” (as defined below), and
    (ii) (ii) all those Loans that Lender transfers to Fannie Mae in the future in the Transactions.
    However, any such Loan ceases to be Collateral effective if an when Fannie Mae transfers such Loan to Lender, or to any entity that is then servicing such Loan for Fannie Mae or that previously serviced such Loan for Fannie Mae.
    Loans are defined as all obligations evidenced by any of the following documents and records, all rights of ownership and possession of such documents and records, and all rights associated with ownership or possession of such documents and records:
    (i) Promissory notes and/or electronic notes (and/or participations therein),
    (ii) Including such notes secured by residential real estate and/or personal property (all of the foregoing in this clause “(i)” are collectively referred to as “Notes”),
    (iii) (ii) all documents, files and records associated with Notes that are reasonably required to originate and/or subsequently service any of the obligations evidenced by the Notes,
    (iv) (iii) all mortgages, deeds of trust, security deeds, security agreements, or other security devices that secure any of the Notes, and
    (v) (iv) if retail installment contracts (and/or participations therein) are used in any past or future Transaction, then references to Notes in (i), (ii), and (iii) and shall also include the retail installment contracts, insofar as applicable.
    The transactions in which the Collateral has been (or will be) transferred to Fannie Mae are referred to herein collectively as the “Transactions.” The Transactions include both those in which Lender receives cash, and those in which Lender receives mortgage-backed securities, from Fannie Mae at the conclusion of the Transaction. Lender and Fannie Mae both intend that all of the Transactions are and will be true, absolute, and unconditional sales by Lender to Fannie Mae of all of the Lender’s right, title, and interest in Collateral, and not pledges of such Collateral by Lender to Fannie Mae. If, however, notwithstanding that intent of the parties, a court or other appropriate forum shall ever finally hold that the Collateral (or any portion thereof) is still the property of the Lender, then it is the intent of the parties that Lender’s title to such Collateral is subject to a security interest (granted by lender to Fannie Mae at the time of transfer) in all of Lender’s right, title and interest in such Collateral that is still the property of the Lender, to secure payment or performance of all of the Lender’s obligations relating to , or arising under, the Transactions and/or under any commitments, contracts or other agreements applicable to the Transactions, including the payment of principal, interest and other sums due to Fannie Mae. This filing is effective as of its filing date.

    CSC, 801 Adlai Stevenson Dr, Springfield IL 62703 8009279800 qsconfirmations@casinfo.com fax: 302-555-5555

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