The largest foreclosure mill in New York, under investigation for years by federal authorities for allegedly filing misleading paperwork, affidavits and mortgage documents, yesterday agreed to pay a $2 million fine to settle a probe by Manhattan US Attorney Preet Bharara.An article well worth your time.
Steven J. Baum PC, which has filed tens of thousands of foreclosure actions across the state over the past several years, promised to change the way it did business and admitted to “occasionally” making “inadvertent errors.”
The Buffalo-based firm, which was used by every major bank in the country, did not admit any wrongdoing in the settlement deal.
The agreement immediately drew howls of protest and disbelief at the low amount of the fine.
Saturday, October 08, 2011
Feds went easy on NY's largest foreclosure mill: critics
The New York Post reports:
