foreclosure mill
n. A law firm that processes foreclosures perfunctorily and without due process.
Examples
2011
The Florida Attorney General's Office calls these firms "foreclosure mills" because of the large volume of cases they handle. Critics say the firms got so big that they fostered an atmosphere for sloppiness.
—Shannon Behnken, “Suit: 'Foreclosure mill' forced employee to overwork,” The Miami Herald, January 17, 2011
2011
Through a spokesman, Mr. Baum said, ''The foreclosure process in New York State is extremely complex and subject to extensive judicial review. We believe this review respects the due process of anyone who challenges a foreclosure. Consumer activists and attorneys representing homeowners have their own agenda in this process, including degrading the legal work we conduct on behalf of our clients by using terms like 'foreclosure mill,' which I find personally and professionally insulting.''
—John Schwartz, “Judges Berate Bank Lawyers In Foreclosures,” The New York Times, January 11, 2011
2003 (earliest)
Why I am running: To unify government and end the taxpayer funding of illegal foreclosure mills.
—“The Candidates — Lake Park,” Charlotte Observer, October 30, 2003
Notes
The word mill is used here to infer that these institutions dispense mortgages as though from a factory: mechanically and without much in the way of thought or due process. There's also a whiff of the unethical and the shady, as seen in similar terms such as puppy mill (1980) and diploma mill (1923).
Posted: January 18, 2011