Stern sues lenders for breach of contract

Fallen foreclosure king David Stern has fired back at the lenders that dropped his services after the Florida attorney general’s office launched a probe into his law firm’s foreclosure practices with eight lawsuits in Miami-Dade and Broward counties. Stern, whose firm has since announced that it will shutter in the wake of its lost clients, has filed around $15 million worth of claims against eight lenders: GMAC Mortgage, U.S. Bank, MetLife Bank, Space Coast Credit Union, Chase Home Finance, Ocwen Loan Servicing, Nationstar Mortgage and PNC Bank. Stern alleges in his complaint against GMAC that the company entered into a breach of contract when it cut ties with his firm, and owes him $6 million as a result. [SFBJ]