Closing NY Foreclosure Firm Agrees to Pay $4M in Pact with State AG Regarding Paperwork Shortcuts
A New York mortgage foreclosure firm that is winding up its operations has agreed to pay $4 million to the state attorney general to settle claims that it took shortcuts with court paperwork.
Half of the money to be paid by the Steven J. Baum law firm will go to state residents who are in foreclosure or at risk of foreclosure, reports the Associated Press.
The law firm filed about 100,000 foreclosure cases between 2007 and 2010. It made headlines last year with news of Halloween costumes that staffers had worn mocking defendants.
Earlier coverage:
ABAJournal.com: “Law Firm that Apologized for Costumes Is Barred from Freddie and Fannie Foreclosure Work”
ABAJournal.com: “Baum Foreclosure Firm to Close After Fannie and Freddie Pull Files, Plans Mass Layoffs”
ABAJournal.com: “NY Judge Nixes Bank’s Foreclosure Judgment Because Process Server Didn’t Keep Records”
ABAJournal.com: “New Law Firm Rises from Ashes of Foreclosure Giant”
