Former Foreclosure King David Stern is Ending His Fight to Hold Onto His Law License
Major foreclosure lawyer David Stern will accept disbarment
TALLAHASSEE, Fla. (AP) — The Florida lawyer whose firm was handling tens of thousands of foreclosure cases at the height of the financial crisis is ending his fight to hold onto his law license.
The likely disbarment of David Stern would mark the most significant punishment handed down to any of the Florida attorneys whose work came under fire as the number of foreclosures soared in the Sunshine State.
Critics had charged that attorneys have not been punished adequately for their role in falsifying documents through fake signatures and backdating records and through not giving homeowners proper notice that they faced foreclosure.
In late January, a month after inquiries from the Associated Press, the Florida Bar found probable cause for 17 counts against Stern. The alleged violations include misconduct and failure to supervise non-lawyers properly. Some of the complaints were more than two years old and some even came from judges.
Stern’s attorney initially said his client had done nothing unethical and questioned if the Bar could prove that the South Florida attorney did anything to merit punishment.
The Palm Beach Post reported last month that during a five-day hearing into the charges, Stern argued that his Plantation-based firm simply made a few mistakes in a tiny percentage of the 277,000 foreclosure cases it handled.
Jeffrey Tew, the lawyer representing Stern, filed a one-page document Friday with the Florida Supreme Court stating that Stern has decided to end his fight against recommendations that he be disbarred. A referee has also recommended that Stern pay nearly $50,000 in costs to the Bar.