Schneiderman Reaches Another Settlement on Foreclosure Fraud, This Time With Defunct Steven J. Baum Law Firm

By: Thursday March 22, 2012 9:41 am

Stephen J. Baum, the New York-based foreclosure mill law firm which drew attention last year after photos cropped up from a Halloween party featuring its employees dressed as homeless people, reached a settlement with the New York Attorney General Eric Schneiderman over the filing of unverified, unsubstantiated and outright fabricated documents with state courts. Under [...]

Foreclosure Mill Law Firm Whose Employees Dressed Up as Homeless Will Close

By: Monday November 21, 2011 12:55 pm

Stephen L. Baum, the foreclosure mill law firm which generated controversy recently when pictures of a past Halloween party showed employees dressed as homeless people and foreclosure victims, will close its doors, they announced today. But it wasn’t just the fallout from the homeless-themed party that did the law firm in. A couple major factors [...]

Fannie and Freddie Finally Kick Out Their Foreclosure Mill Law Firms

By: Wednesday October 19, 2011 9:35 am

I’d rather not even comment on the latest leak from the “I’m not dead yet” foreclosure fraud settlement talks. That trial balloon about allowing underwater borrowers to refi on bank-owned loans that I mentioned yesterday? Turns out that is being offered in exchange for more immunity for the banks. Marcy has the story. This is [...]

FHFA IG: Fannie Mae Knew About Foreclosure Fraud in 2003

By: Wednesday October 5, 2011 7:41 am

The real bombshell of the past 24 hours in housing was the report of the FHFA Inspector General, the second in two weeks damning the conduct of the GSEs. In this case, Fannie Mae was found to have known about foreclosure fraud, including serial fabrications of foreclosure documents and robo-signing, as far back as 2003. [...]

Florida AG’s Politically Motivated Firings Protect the Foreclosure Fraud Industry

By: Friday July 22, 2011 12:07 pm

Maybe it’s because I’ve done so much reporting on the foreclosure fraud issue, but I have to admit to some surprise that the firing of two Assistant Attorney Generals down in Florida, the hotbed of the housing crisis, hasn’t gotten much attention nationally. In my mind, this is the state-based equivalent of the US Attorney [...]

As Foreclosure Fraud Consent Decree Gets Slammed, AGs Should Get to Work With Investigations

By: Thursday April 7, 2011 8:20 am

Chris Hayes is one of the only commentators with a broadcast TV platform who actually gets the foreclosure crisis. And he was unerring in his assessment of the fake consent decree that federal regulators are trying to use to undermine the AG settlement with banks and servicers. He rightly says that the terms of the [...]

Investor Lawsuits Provide Gateway to Foreclosure Fraud Accountability

By: Tuesday March 29, 2011 3:12 pm

Jon Walker has already touched on Shahien’s article, and Yves Smith’s response to it, about the tens of billions of dollars banks saved by having their servicers cut corners in their mortgage operations. I’m coming late to the party so I’ll just let their stories lie without further analysis. Similarly, Yves has some analysis of [...]

Without Global Settlement, Accountability for Foreclosure Fraud Faces Similar Hurdles

By: Monday March 28, 2011 9:10 am

Yves Smith has a long story asserting that state Attorneys General and consumer-friendly regulators are being played for fools by the proposed Obama Administration mortgage settlement. Given the resistance from Dem AGs to the settlement, I’m not sure that’s entirely true. But there’s no question that there’s a great deal of pressure on these AGs [...]

Fannie Mae Report in 2006 Detailed Servicer, Foreclosure Mill Abuse

By: Friday March 25, 2011 1:37 pm

I’m not inclined to believe the conservative argument that Fannie Mae and Freddie Mac somehow caused the housing crisis by lending to poor people. I am inclined to believe that Fannie and Freddie are as responsible as the major banks for the abuse and fraud in mortgage servicing, in fact more so, because as a [...]

Florida, Home to Housing Scam Artists at Every Level

By: Thursday March 17, 2011 6:45 am

We know that Florida is just a sewer for mortgage scams, and we got another indication of that today. People filing false deeds to take over vacant homes has Palm Beach County’s clerk of courts warning owners to keep an eye on their property records the same way they do their credit reports. With hundreds [...]

Foreclosure Mill David J. Stern Gets Out of the Foreclosure Business

By: Monday March 7, 2011 7:25 am

The Law Offices of David J. Stern, one of the most egregious foreclosure mills, which has been under investigation in Florida for its corrupt foreclosure practices, announced in a filing that they would no longer take foreclosure cases. DJSP Enterprises, Inc.’s (the “Company’s”) primary customer, the Law Offices of David J. Stern, P.A., has announced [...]

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