Foreclosure law firm ordered to pay $2m and change practices for conduct in housing crisis

One of the largest foreclosure law firms in New York State, Steven J. Baum PC, has been ordered to pay the US government $2 million and to change its practices, after a probe investigated the firm for its actions during the housing crisis. The firm was accused of overcharging, filing false documents and representing parties on both sides of a mortgage transfer. US Attorney Preet Bharara said: “There are no excuses for sloppy practices that could lead to someone mistakenly losing their home,” adding: “Homeowners facing foreclosure cannot afford to have faulty paperwork or inadequate evidence submitted, and today’s agreement will help minimize that risk.”

Foreclosure law firm ordered to pay $2m and change practices for conduct in housing crisis washingtonpost.com Tue, Oct 11, 2011