Remember the New York foreclosure mill that had the Halloween party last year mocking the foreclosed and homeless? [Here’s the video if you don’t.]
The “robo-signers”, the Steven J. Baum law firm, have settled. The tab for their “humor”? Four million dollars. [Thanks L!]
BUFFALO, N.Y. – A New York law firm that was harshly criticized after pictures surfaced from a company Halloween party where people dressed as homeless has agreed to pay $4 million in a settlement with the state over some of the tens of thousands of foreclosures it filed, attorneys said Thursday.
The agreement settles allegations that the Steven J. Baum Firm, one of the state’s largest-volume foreclosure companies, engaged in “robo-signing” and other paperwork shortcuts to process a huge number of foreclosure cases for clients including Wells Fargo, JPMorgan Chase, Bank of America, HSBC and Citibank, according to Attorney General Eric Schneiderman’s office.
Schneiderman said his office has been investigating the suburban Buffalo firm since April 2011, months before the company drew withering public criticism over pictures from its 2010 Halloween party that were published in The New York Times.
It looks like the folks that were being mocked are going to have the last laugh.