Category Archives: Foreclosure
Big Banks Continue to Settle Charges of Defrauding Homeowners
Nowadays, newspapers regularly publish articles about big banks settling charges that they routinely “misled investors while selling billions of dollars of investments linked to home loans.” The unfortunate reality is that homeowners were likely ill-advised (if at all) by these same banks of the intricacies of the loans they were taking, including the impact of [...]
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District Court Partially Overturns Bankruptcy Court Decision Concerning MERS Authority
On March 28, 2012, U.S. District Court Judge Joanna Seybert vacated part of the decision made by Bankruptcy Court Judge Robert E. Grossman in In re Ferrel L. Agard, 444 B.R. 231 (Bankr.E.D.N.Y. 2011), wherein he concluded that MERS’s “nominee” status did not confirm upon it authority to assign mortgages. A copy of the decision [...]
Foreclosure Firm Steven J. Baum to Close Down
A law firm that had become a lightning rod in the controversy over mortgage-foreclosure practices has shut down, costing 89 employees their jobs. The Steven J. Baum P.C. law firm, which has offices in Amherst, N.Y., and Westbury on Long Island, has filed papers with government agencies notifying them that it plans to close. It [...]
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Fannie Mae, Freddie Mac Ban Baum From Foreclosures
Fannie Mae and Freddie Mac have dropped Steven J. Baum P.C., New York’s largest foreclosure law firm, from its network of firms that process the foreclosures of mortgages owned by the government-sponsored enterprises. The servicers of Freddie Mac and Fannie Mae-owned mortgages can no longer refer foreclosure cases to the Baum firm, though the firm [...]
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Feds Fine Mortgage Foreclosure Firm Steve Baum $2 Million
The U.S. Attorney for the Southern District of New York announced that it entered into an agreement with the law firm of Steve Baum, P.C., one of the largest mortgage foreclosure firms in the state, to pay $2 million to the federal government and revamp its policies and procedures. The arrangement is the result of [...]
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