One of New York state’s biggest foreclosure law firms will revamp its practices and pay a $2 million fine to settle a six-month probe by the Southern District U.S. Attorney’s Office that found it had filed misleading pleadings, affidavits and mortgage assignments in state and federal courts.
In a settlement agreement announced yesterday, the firm, Steven J. Baum, P.C., of Amherst, will implement a series of internal controls including a pledge not to bring foreclosure actions without reviewing the original promissory notes or reviewing a copy of the note from its client or custodian of the document.
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