Spotlight Continues On Head Of Alleged South Florida 'Robo-Signer' Racket

Columnist Max Abelson writes in The New York Observer:

• Every good crisis deserves a good villain, and every good villain deserves a good yacht. As if the ongoing foreclosure fiasco wasn't already scary enough, the top Wall Street Journal item right now is the news that Fannie Mae and Freddie Mac are reviewing the work of the enormous Florida law firm run by David J. Stern, which they both have sent work to for years. It's the first time the mortgage giants have been directly drawn into the ongoing crisis, because though they don't actually service loans, they do use the foreclosure mills that are turning out to be rife with fraud.

For more, see Is This Foreclosure Supervillain David J. Stern's Yacht 'Misunderstood'?

In a related story this week on Stern, see The Wall Street Journal: Document Mess Hits Fannie, Freddie (Fannie, Freddie cut Stern income stream).