Foreclosure king no more, David J. Stern is fighting back against former clients whose business once elevated him to one of the richest and most well-known default services lawyers in the country.
The fight is taking place largely in state and federal courtrooms via 25 lawsuits where Stern alleges that the biggest names in the mortgage industry owe him more than $34 million in unpaid invoices. The fight includes at least two major mediation cases, as well.
Bank of America (BAC: 11.86 0.00%) and its servicing arm, BAC Home Loans Servicing LP, owe a combined $10.7 million, the lawsuits, all filed in South Florida courtrooms, allege. Aurora Loan Services allegedly owes Stern more than $5.3 million, and Citigroup (C: 41.3215 +0.32%) clocks in at more than $4.4 million, the lawsuits allege.
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