Foreclosure Mill Steven J. Baum Firm to Close

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From BizJournal:

The embattled Steven J. Baum P.C. law firm is the closing its doors after a series of missteps that included mortgage industry giants Freddie Mac and Fannie Mae cutting off business with the Amherst-based firm.

Baum has filed a Worker Adjustment and Retraining Notification notice with several government agencies, saying it plans on shutting its doors. The firm has 67 full- and part-time employees at its Northpointe Parkway offices and another 22 full- and part-time workers at its Long Island office.

…

Last month, the Baum firm settled a federal claim relating to alleged mishandling mortgage filings on behalf of his clients. Baum agreed that the firm would pay $2 million in fines and promised to change business practices at the firm.

The Baum agency was also working under a cloud of suspicion concerning allegedly misleading pleadings and affidavits, some of which led to people having their homes foreclosed under what was deemed unfair circumstances.

The New York Times also ran a photo of Baum employees dressed and apparently mocking homeless people during a company-sponsored Halloween party. The photo attracted national attention, drawing criticism. But, the largest blow came on Nov. 10 when Freddie Mac and Fannie Mae cut off all business with the Baum firm because of its business practices.

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  • Anonymous

    I’m shedding no tears.  “Alleged mishandling mortgage filings” –  the rich, white guys and corporations get to settle things after stealing from/defrauding thousands, while low-income people of color get marched into prisons, mostly for nonviolent offenses that don’t begin to rise to the level of criminality represented by Steven J. Baum.

    That Halloween party is just despicable, as well, but how vividly it demonstrates the contempt with which this company regarded people it conned.