New York investigation appears to focus on two of the giants of the industry of foreclosure the State: the firm is Steven j. Baum, whose headquarters in Amherst, in the State of New York and the mainstay of treatment, a failure to maintain firm set up by Mr. Baumwhich was separated in 2007. Representative JPMorgan Chase, Wells Fargo and other big banks, the Baum firm has managed approximately 40% of cases of foreclosure in the State. Pillar treatment provides important services to the firm.
A spokesman for Mr. Schneiderman has refused to comment on. Mr. Baum said in an e-mail: "the company will cooperate with the Attorney General in this case." "We are confident that after a comprehensive review by the Attorney General, they find no wrongdoing".
Attorneys General across the country worked on ways to correct the irregularities of the foreclosure by the largest banks in the country and entered into negotiations in the past few weeks with these institutions at a national regulation. Tom Miller of Iowa is responsible for this effort. While Mr. Schneiderman participated, its new survey points out the possibility that it will take a different path.
Great foreclosure firms have been review in States outside of New York. Last year, the Attorney General of Florida began to study the firm j. David Stern, the most important in this State. As the investigation continues, but the firm has stopped providing foreclosure cases last month.
As the Stern company, Mr. Baum operation prospered as the mortgage crisis deepened. Since the end of 2007, he filed more than 50 000 new cases of foreclosure in New York, according to data compiled by the New York State Unified Court System. The company employs approximately 70 lawyers.
With the Attorney General, federal prosecutors in Manhattan have requested information on the Baum firm practices, according to a lawyer who has represented borrowers against the firm. The lawyer spoke on condition of anonymity because communications with attorneys were deprived. A spokesman for the Department of Justice declined to comment on.
A review of the Baum firm has increased in recent months after significant errors resurfaced at the national level in the legal paperwork used by banks to take over houses in the delinquent borrowers. For example, documents describing how many borrowers toward were signed by the representatives of the Bank who say that they have not verified the information. Other problems involve questionable notarization of documents or paperwork showing that the foreclosure process started without providing evidence that the entities involved had the legal right of foreclosure.
The Baum firm fired setback on its legal practices of judges in various courts of New York. Judges of the courts through the State rejected dozens of complaints by the Baum firm, saying: he has failed to provide the necessary documentation to begin the foreclosure.
Last November, j. Scott Fairgrieve, in the County of Nassau district court imposed sanctions of $5,000 on the Baum firm in case of foreclosure and he had to pay more than $14,000 in fees of lawyers of the borrower. In the allocation of the sanctions, the judge wrote: "the time of legal remedies when there is no legal right to do so, the lack of quality standing, stalls the effective administration of justice in the system."
Paul d. Stone, Tarrytown, New York lawyer, has defended a case of foreclosure against the Baum firm since 2009. "I have never seen any company to file these poorly designed documents, sought by the ill, factual with a court," said Mr. Stone. The judge overseeing his case recently ordered Cabinet of Mr. Baum to pay the costs of the borrower.
In the hope of eliminating defective deposits, last fall, New York, the courts began requiring lawyers providing foreclosure cases attest to the accuracy of their materials.
The Baum firm was founded in 1972 by Marvin r. Baum and was supervised by Steven j. Baum, his son, since the death of the eldest man in 1999.
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