David Stern Fees for DJSP Processing Company Revealed
Recent documents filed in lawsuits surrounding the collapse of David J. Stern’s foreclosure law firm describe the fees that his company DJSP received per case.
DJSP was a spinoff from Stern’s law firm; it briefly became a public company with outside investors. Stern was an executive with the company, and its sole business was handing paperwork and processing for Stern’s heavy volume of foreclosure cases.
DJSP was paid about $1,000 per foreclosure case as a processing fee, and $400 as an access fee. There were other processing fees for bankruptcies and evictions. Bankruptcies were $14 more expensive if in Puerto Rico.
That would be a lot of money – about $100 million annually – because Stern was reportedly handling about 100,000 foreclosure cases when his firm imploded in 2010.
For a list of the fees, click here…
~
No Comment