The Palm Beach Post Blogs

Ben-Ezra & Katz to close, second South Florida foreclosure firm to shut its doors

by Kim Miller

The Fort Lauderdale-based Ben-Ezra & Katz law firm gave layoff notices today to 146 employees as it moves toward shutting down operations, a spokesman for the company confirmed. An additional 8 employees will be laid off from the firm’s title company.

Earlier this year, the firm had nearly 600 employees, but has been decimated following the loss of foreclosure business from federal mortgage backer Fannie Mae. Fannie Mae fired the firm in February citing “execution issues” in foreclosure proceedings.

The shutdown is the second collapse of a South Florida foreclosure law firm, following the March 31 closing of the Law Offices of David J. Stern.

A spokesman for Ben-Ezra & Katz said the firm intends to make an orderly transfer of all of its files to new foreclosure attorneys.

Chase Home Finance, which also cut ties with Ben-Ezra, was ordered by a judge earlier this month to pay a $4 million surety bond to get its foreclosure cases back. Ben-Ezra & Katz says Chase owes it $6.2 million in legal fees.

http://blogs.palmbeachpost.com/realtime/....


PS: I hope you'll follow-up on my own blog. I have a few other updates I believe to be of some significance, and hope to have an article of my own posted on developments in MERS today, or in the very near future; once it is fully completed.

http://twainsthoughts.com/

Rats firing maggots firing leeches.