Clogged Foreclosure Pipeline May Lead to DJSP Layoffs

The clogged foreclosure pipeline is delaying new foreclosure filings, and Florida-based processing services firm DJSP Enterprises said it’s considering layoffs to deal with the decreased business.

DJSP Enterprises’ main client is The Law Offices of David J. Stern, P.A. (DJSPA). In the DJSP Enterprises second quarter 2010 and mid-year earnings report released this week, the company said a slow down in new foreclosure filings will likely necessitate cost cutting and personnel layoffs. The company said it initially believed file volume would increase in the third quarter, leading to the decision to maintain current staffing levels. However, file volumes continue to be delayed and existing staffing levels are not sustainable indefinitely, the report said.

“While a large portion of our business can only be processed with human capital, we are identifying opportunities where technology and process change can be implemented to create efficiency,” recently-appointed DJSPA President and COO Richard “Rick” Powers said in the financial statement. “We are prepared to create efficiencies and make cuts where appropriate over the next three to six months.”

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6 Responses to “Clogged Foreclosure Pipeline May Lead to DJSP Layoffs”
  1. Pissed off says:

    How the hell can you people be so cruel. No one told you not to pay your mortgage. Those people at DJSP have no control over you losing you homes. All they do is process the request for the bank. Those people who lose their jobs my heart goes out.

  2. Pj says:

    Now is the time for every American to go after every RO-BO signer and so called “para legal” , Notery, that put their name on any and all documents for David Stern, DJSP, etal. along with LOGS Network” aka the “Law offices of Gerald Shapiro” NATIONWIDE, in a personal CIVIL ACTION FRAUD CASE. These people are not protected by their employers, way to expensive, and they stand a chance to loose everything they own under RICO, they have aided and abetted a crime for their bennifactor, which is at the end of the day Fannie Mae.

  3. e.s. says:

    HAH… I agree that karma is not always friendly! wonder who the “human capital” will have as their foreclosing attorney firm when they can’t pay their mortgage due to their very unfortunate layoff?!

    Why do I feel NO, ZIP, NADA, ZERO sympathy???? This must be the same feelings that these folks felt when they were assisting in forging documents to speed up foreclosures, or harassing people who were losing their homes due to medical bills from cancer etc..

    Life has a way of HUMBLING all of us!

    I will still pray for these folks!

  4. All those unemployed ex-Stern employees? Headed toward foreclosure in the near future due to the dismal job market? When you need help & are ready to talk, we’ll be here.


  5. PJ says:

    Looks like its Pink-Slip Friday over at DJSP.. These people are about to get a modification of their own, a lifestyle modification. What will the fired “human capitol” do when they can’t find another job, pay their bill’s and Stern, Shapiro and their ilk come after theses people to foreclose on their homes. Hummm… Karma has a way of biting you in the patootee!

  6. indio007 says:

    I love how the call employing forgers counterfeiters and utterers “human capital”

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