But once again, the settlement doesn’t constitute a finding of wrongdoing.

Where are the damn handcuffs?


Baum Law Firm to Pay $2 Million Over Foreclosure Practices

Oct. 6 (Bloomberg) — Steven J. Baum’s foreclosure law firm, one of the largest in New York state, will pay the U.S. $2 million and change its practices, including those related to Merscorp Inc.’s mortgage database, to resolve a probe of its foreclosure filings.

The agreement resolves an investigation into whether the Baum firm filed misleading pleadings, affidavits and mortgage assignments in courts, according to a statement today by U.S. Attorney Preet Bharara in Manhattan. The settlement doesn’t constitute a finding of wrongdoing.

“There are no excuses for sloppy practices that could lead to someone mistakenly losing their home,” Bharara said in the statement. “Homeowners facing foreclosure cannot afford to have faulty paperwork or inadequate evidence submitted, and today’s agreement will help minimize that risk.”

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