A man named David J. Stern has been getting a lot of attention lately -- The New York Times and the South Florida Sun-Sentinel have named him as a key figure in the massive collapse of Florida's mortgage and foreclosure crisis. Says the Sun-Sentinel:
Stern's Plantation-based foreclosure practice is one of eight under investigation by the Florida attorney general for allegations of fabricating documents, slipshod paperwork and questionable fees.
The mortgage lenders who once loved him have severed their business ties with him. DJSP Enterprises, a company he created to handle nonlegal foreclosure work, has been sued by former employees who claim the company violated layoff notification laws as it slashed its staff to about 50. Last week, Stern announced that he will cease the law firm's home repossession operations March 31.
Reporters have not been too successful in discovering the background of the high-living Stern, but our sister blog at the Broward/Palm Beach New Times found this out: Stern used to be a soccer coach at Klein Forest High School until he was kicked out for being an asshole.
Stern coached at Klein Forest for three years while also attending the South Texas College of Law (STCL represent!!), until he argued with a ref at the 1984 state finals and was suspended by the UIL.
But that wasn't all:
At the hearing in Austin, Stern blew up in front of the panel.
"Most people say, 'I'm sorry, I was upset,' something like that," said a coach who worked for another Houston high school at the time. "But he went there and said, 'You have no idea what you're doing. You have no authority to discipline me.'"
In response, the UIL banned him from coaching for three years.
As a result, he focused on getting his law degree, apparently to the detriment of the Florida housing market.
Anyone remember this dude?