Baum Firm Settles NY Foreclosure Allegations For $4M

Law360, New York (March 22, 2012, 2:12 PM EDT) -- Shuttered New York law firm Steven J. Baum PC will pay the state $4 million to settle allegations it brought unverified foreclosure proceedings against homeowners and failed to timely file court intervention requests in foreclosure cases, Attorney General Eric Schneiderman said Thursday.

Firm founder Steven J. Baum and managing partner Brian Kumiega also agreed not to represent lenders or servicers in new foreclosure cases for two years. The firm, which has faced a blitz of investigations, lawsuits and bad press over its foreclosure practices, shut its...
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