St Louis Mortgage Loan and Refinancing: Judges Scold Lawyers
St Louis Mortgage and Real Estate News –
St Louis Mortgage Lending and Loan Reduction News: Judges Berate Lawyers Due To Foreclosure Crisis
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate
Federal judges are looking ever more critically at home foreclosures.
They are accusing lawyers of processing shoddy or even fabricated paperwork in foreclosure actions when representing the banks according to a St Louis mortgage company report.
Judge Arthur M. Schack of New York State Supreme Court in Brooklyn has taken aim at an
upstate lawyer, Steven J. Baum, referring to one filing as “incredible, outrageous, ludicrous and disingenuous.”
But New York judges are also trying to take the lead in fixing the mortgage mess by leaning on the lawyers.
In November, a judge ordered Mr. Baum’s firm to pay nearly $20,000 in fines and costs related to papers that he said contained numerous “falsities.”
The judge, Scott Fairgrieve of Nassau County District Court, wrote that “swearing to false statements reflects poorly on the profession as a whole.”
More broadly, the courts in New York State, along with Florida, have begun requiring that lawyers in foreclosure cases vouch for the accuracy of the documents they present, which prompted a protest from the New York bar.
The requirement, which is being considered by courts in other states, could open lawyers to disciplinary actions that could harm or even end careers.
The role of lawyers is under scrutiny in the 23 states where foreclosures must be reviewed by a court.
The situation has become especially heated for high-volume firms whose practices mirror the so-called robo-signing of some financial institutions; in these cases, documents were signed without sufficient examination or proper notarization.
In the most publicized example, David J. Stern, a lawyer whose Florida firm has been part of an estimated 20 percent of the foreclosure actions in the state, has been accused of filing sloppy and even fraudulent mortgage paperwork.
Major institutions have dropped the firm, which has been the subject of several lawsuits, and 1,200 of the 1,400 people once at the firm are out of work.
The Florida attorney general’s office is conducting a civil investigation of Mr. Stern’s firm and two others.
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Articles and News Sponsored by Liberty Lending Consultants
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