New York’s largest foreclosure firm, Steven J. Baum P.C., yesterday announced “mass layoffs,” signalling that the firm is closing its doors. The move followed recent decisions by Fannie Mae and Freddie Mac to stop referring new cases to the embattled firm.
“Disrupting the livelihoods of so many dedicated and hardworking people is extremely painful, but the loss of so much business left us no choice but to file these notices,” Steven J. Baum said in a statement, referring to Worker Adjustment and Retraining Notifications (WARN) filed with local municipalities, the Buffalo and Erie County Workforce Investment Board and the New York State Department of Labor.
