Jennifer Lewis

Paradise Bank, a full service community bank serving Broward and Palm Beach counties reported today a profit of almost $1,500,000 for the nine month period ending September 30^th. This represents a remarkable turnaround of $2,300,000 from the previous year.

The bank also met or exceeded requirements to add capital through core profitability and attracting new investors. As a result, Paradise Bank exceeded targeted guidelines by producing capital ratios of 8% and 12%.

”I’m extremely gratified to share that we have only three non-accruing loans totaling $1,931,000 and four pieces of bank owned real estate totaling $1,718,000 remaining, representing 1.65% of the total loan portfolio,” stated Bill Burke, President of Paradise Bank. “This is very manageable for us.”

Core profitability was enhanced by the launch of a successful Small Business Administration (SBA) loan initiative one year ago. Paradise Bank entered the SBA market last year with the addition of Kevin Rafferty, Senior Vice President, to the bank’s management team.

In terms of dollars of loan volume, Paradise Bank became the top loan producing community bank in the State of Florida and Palm Beach County for the first nine months of this year. They also posted the number two production slot in Broward County for the same time period.

Measured by loan volume for 7a SBA loan product, Paradise Bank focused largely on financing owner occupied commercial real estate properties.

“This truly shows how community banks can make a big positive impact in spurring the economic turnaround of our markets” related Ward Kellogg, Chairman of Paradise Bank.

Becoming the top Small Business Administration (SBA) community bank lender in the state of Florida is a significant milestone for the six-year old, three-branch bank.

“Kevin continues to be a primary driver of quality loan production in Broward and Palm Beach counties” added Kellogg. “Our emphasis continues to focus on the owner occupied type of real estate, and we provide the borrower with the full array of superior banking products.”

Paradise Bank, with total assets of approximately $300 million, is a full service community bank offering an array of commercial banking and retail services with offices in Boca Raton, Delray Beach and Fort Lauderdale. For more information contact Bill Burke at (561) 392-5444 or visit www.paradisebank.com.

In a matter of “great public importance” that has gone largely ignored this week, the high-profile foreclosure fraud case of Roman Pino versus The Bank of New York has been settled. According to the Florida Supreme Court, the matter was dismissed upon Pino’s “Notice –Dismiss (Voluntary Stipulation)” on July 25^th.

The opportunity for a precedent setting opinion for attorney Thomas Ice, of Ice Legal, whose boutique litigation firm specializes in uncovering forged and fraudulent foreclosure documents, must mean outright success for Pino.

Although details of the settlement were not provided in the brief stipulation before the high court, one can only speculate whether Pino received a mortgage modification, principal reduction, right to short-sale, waiver of deficiency balance, or his home free and clear.

One thing is clear, though. Any settlement agreement between the parties would contain a confidentiality agreement.

Neither Ice, nor Enrique Nieves – Pino’s attorney of record – were available for comment despite several messages left at Ice Legal and on their cell phone voicemail.

An appeals court in February requested that the Florida Supreme Court consider the case of Greenacres homeowner Roman Pino as a matter of "great public importance." The decision by the 4th District Court of Appeal in West Palm Beach was unusual as neither the bank nor the homeowner had requested such a review.

"We conclude that this is a question of great public importance, as many, many mortgage foreclosures appear tainted with suspect documents," the appeals court wrote in certification to the Supreme Court.

Had the matter been adjudicated on its merits and a decision rendered in favor of Pino, thousands of foreclosure cases could have been impacted as allegations of document fraud and robo-signing run rampant throughout the nation.

According to land records, Pino purchased his Greenacres home in July, 2006 for $203,000 by securing a $162,400 mortgage with Silver State Financial Systems. After falling behind on the mortgage, the Bank of New York moved to foreclose in October, 2008.

In their foreclosure complaint, the Bank of New York alleged that it was the owner of Pino's mortgage note through an assignment from another lender, but did not include said assignment as part of its original complaint.

Pino retained Ice, who in moving to dismiss the complaint, argued that the bank needed an assignment in order to have standing to foreclose.

Attorneys from the Law Offices of David J. Stern in Plantation filed an amended complaint and attached an unrecorded mortgage assignment "which happened to be dated just before the original pleading was filed," the appeals court wrote.

Stern's now defunct law firm is one of several foreclosure mills throughout Florida that are under investigation by Florida Attorney General Pam Bondi.

Just as Pino's attorneys were set to take depositions of Stern employees to determine how the assignment was created, the Bank of New York dismissed its foreclosure action. Ice had wanted an opportunity to prove that Pino was the victim of fraud but was unable to do so because of the voluntary dismissal. The bank refiled the foreclosure in August 2009, and that case is pending.

In its written opinion, the Fourth District Court of Appeal agreed with the lower court's ruling about the dismissal but because of its importance on similar foreclosure matters, sent the case to the state's highest court in Tallahassee. One appellate judge, Gary Farmer, dissented saying he thought the trial judge could have kept the case open to litigate Pino's claim of fraud.

“I’m not surprised at a settlement of this matter considering the allegations of forged or fraudulent documents and the risk of substantial loss to the bank,” said Carlos J. Reyes, of the Reyes Law Group in Fort Lauderdale. “As a foreclosure defense attorney, my preference would have been for a written opinion from the Florida Supreme Court, but the client is the ultimate decision maker in any settlement discussions.”

In tough economic times, homeowners cannot afford to pass up free paint and a potential savings of several hundred dollars. Between record foreclosures, high unemployment, and rising food and gas prices, the “Paint it Broward” program has hit all-time records in paint distribution county-wide.

“Paint it Broward” is an initiative of Broward County’s Waste and Recycling Services allowing residents throughout the county to receive up to twenty gallons of high-quality recycled latex exterior paint yearly for residential projects.

Latex paint collected through the Household Hazardous Waste (HHW) Collection Program is transported to a paint manufacturer where it is recycled into high-quality exterior latex paint. It is then distributed through the “Paint it Broward” program and numerous municipalities throughout Broward County.

Broward County recycles and distributes an average of 70,000 gallons of latex paint per year in an effort to improve neighborhoods and benefit the citizens of Broward County.

In fiscal year 2010, a record 77,675 gallons of paint were distributed through the “Paint it Broward” program, up 25% from the previous record in fiscal year 2009 of 61,819 gallons.

“Since the Paint it Broward program began in 2003, a total of 643,066 gallons of paint have been distributed,” said D.J. McPherson, Public Education Coordinator.

Paint colors include beige, terra-cotta, grey and turquoise. Due to variations in paint hues, residents are encouraged to take sufficient quantities to suit their needs, with a twenty gallon maximum.

The distribution of recycled paint is accomplished through a cooperative program where Broward County distributes the paint to participating municipalities, which in turn dispense it to their residents.

To receive free paint through “Paint it Broward”, contact your city at the phone number listed below and ask for the paint recycling program coordinator. If your city is not listed, then it is not a Broward County paint recycling program participant. You can obtain paint directly through the county.

Recycled latex paint is for non-profit or residential use only. This product is not available for commercial entities, or for re-sale.

“Faced with tough challenges in a faltering economy, Broward residents may not place a priority on house painting,” said County Commissioner Chip LaMarca. “Paint it Broward allows you to spruce up your home while saving several hundred dollars on the cost of paint.”

The following municipalities participate in the “Paint it Broward” program.

Coconut Creek: 954-973-6780

Coral Springs: 954-344-1040

Dania Beach: 954-357-8850

Davie: 954-797-1045

Fort Lauderdale: 954-828-5770

Hollywood: 954-921-3061

Lauderdale Lakes: 954-535-2815

Lauderhill: 954-730-3060

Lighthouse Point: 954-946-7386

Margate: 954-972-0828

Miramar: 954-602-3174

North Lauderdale: 954-724-7070

Oakland Park: 954-630-4414

Pembroke Park: 954-966-4600, ext. 1215

Pembroke Pines: 954-437-1111

Plantation: 954-452-2535

Pompano Beach: 954-786-4030

Sunrise: 954-572-2385

Tamarac: 954-597-3700

Unincorporated Broward: 954-765-4999

West Park: 954-989-2688

Wilton Manors: 954-390-2190

For more information on the “Paint it Broward” program or to obtain free paint directly through Broward County, please call (954) 357-8850 and enter option 3.

State Surgeon General Frank Farmer and the Department of Health have temporarily suspended a new requirement in the state's sweeping pill mill law that requires health care providers use an approved counterfeit proof prescription pad when prescribing drugs such as oxycodone.

The move was taken following concern from patients and doctors statewide that pharmacies have refused to fill prescriptions for controlled substances because the prescriptions were not written on approved pads.

The department estimates that approximately 50,000 Florida-licensed physicians prescribe controlled substances to treat their patients' medical needs.

"Once we began learning of the unintended consequences to law-abiding doctors and patients with legitimate health care needs, we knew we needed to take action to prevent substantial injury or harm to patients," stated Farmer in a prepared statement. "Issuing the supplemental order, provides practitioners the time needed to order the necessary prescription pads to ensure public safety over the long term."

In amending his emergency order to suspend the prescription pad requirement until August 29^th, Farmer noted that the Department of Health has published an approved list of vendors on its website from which health care providers can purchase the new prescription pads.

"As a licensed practitioner myself, I understand the complexities of running a medical practice," stated Farmer. "But in the interest of public health and safety to stop the abuse of prescription drugs, I urge all of Florida's licensed health care practitioners to visit DOH's website and order the counterfeit proof prescription pads."

General Farmer declared last week that a "state of emergency" existed due to the prescription drug crisis in Florida. The order stressed that the department planned to identify those practitioners who had purchased more than 2,000 units of controlled substances in the previous six months.

The order also stated that pain clinics had until July 3^rd to open their doors for inspection during regular business hours. In a statewide compliance operation earlier this week, over 105,000 prescription drug pills were confiscated at 24 different locations.

"Earlier this year, I made a promise to crack down on pill mills and stomp this scourge out of our state," said Governor Rick Scott in a statement. "By shutting down pill mills, we are saving lives and making our communities safer places to live."

The Florida Bar filed a complaint Friday against foreclosure attorney David J. Stern, whose now-defunct Plantation based firm was once the largest foreclosure mill in the state.

Filed in the Florida Supreme Court, Stern is alleged to have violated bar rules by failing to produce documents as ordered by the Fifth District Court of Appeal in February.

The complaint requests an investigation to determine why Stern ignored the court order to file documents and is asking for disciplinary action. The complaint does not suggest what action should be taken if Stern is found culpable.

Florida Bar sanctions range from public admonishment to disbarment.

One of the rules Stern allegedly broke: "A lawyer shall not knowingly disobey an obligation under the rules of a tribunal except for an open refusal based on an assertion that no valid obligation exists," the complaint states.

According to the complaint, the Law Offices of David J. Stern represented SunTrust Bank in a lawsuit against Mortgage Electronic Registration Systems.

In February, the district court of appeal issued Stern's firm an "order to show cause" which asked him to prove why sanctions should not be entered after he neglected to file certain documents "in a timely manner." Stern allegedly ignored this order.

"Respondent failed to produce the documents and has otherwise failed to respond," the complaint said.

On March 14th, the matter was referred to the Florida Bar to determine why Stern did not obey the court order. As investigations into the robo-signing controversy were well underway, the Law Offices of David J. Stern and Stern himself amassed a number of complaints and lawsuits against them.

The law firm and a number of its former employees are rumored to be under criminal investigation by state and federal authorities.

Once the largest foreclosure firm in Florida and one of the largest in the nation, the Law Offices of David J. Stern lost Freddie Mac's business last November over foreclosure documentation issues, and Fannie Mae's shortly thereafter.

On February 25th, the Florida Attorney General launched a civil investigation into several foreclosure mills across the state, including Stern's. In March, the firm stopped trading on the Nasdaq stock exchange.

Stern closed the Law Offices of David J. Stern on March 31st.

Stern's attorney - Jeff Tew, of the Miami-based Tew Cardenas LLP - told The Palm Beach Post that his client was fired from SunTrust in mid-December, prior to the issuance of the February 16th order.

Tew said it was possible that Stern missed the court order among the 10,000 pieces of incoming mail received daily.

"David is not guilty of any violation of the Bar rules and we will vigorously defend this complaint," Tew said.

From the complaint:

On or about February 16, 2011, the Court entered an Order to Show Cause requiring respondent to show cause why sanctions should not be entered against him for his failure to timely file certain documents in accordance with a prior Order of the Court. A true and correct copy of the February 16, 2011 Order is attached hereto and incorporated herein by reference as The Florida Bar's Exhibit A.

Respondent failed to produce the documents and has otherwise failed to respond.

On or about March 14, 2011, the Court referred this matter to The Florida Bar for "investigation and consideration of appropriate disciplinary action for failing to comply with the February 16, 2011 Order." A true and correct copy of the March 14, 2011 Order is attached hereto and incorporated herein by reference as The Florida Bar's Exhibit B.

By the conduct set forth above, respondent violated the following R. Regulating Fla. Bar:

A. Rule 3-4.2 [Violation of the Rules of Professional Conduct as adopted by the rules governing The Florida Bar is a cause for discipline.];
B. Rule 4-3.4(c) [A lawyer shall not knowingly disobey an obligation under the rules of a tribunal except for an open refusal based on an assertion that no valid obligation exists.]; and C. Rule 4-8.4(a) [A lawyer shall not violate or attempt to violate the Rules of Professional Conduct, knowingly assist or induce another to do so, or do so through the acts of another.].

WHEREFORE, The Florida Bar respectfully requests this Court enter an Order appropriately disciplining the respondent in accordance with the applicable provisions of the Rules Regulating The Florida Bar as amended.

Read the full complaint here courtesy of The Palm Beach Post.

"The complaint against Stern seems insignificant in light of the various investigations pending against him," says Carlos J. Reyes, a foreclosure defense attorney with the Reyes Law Group in Fort Lauderdale. "I believe this is the tip of the iceberg."

William E. Lewis Jr. & Associates is a solutions based professional consulting firm specializing in the discriminating individual, business or governmental entity. To learn more, tune into The Credit Report with Bill Lewis, weekdays at 9 o'clock on AM 1470 WWNN.