“The New York investigation appears to center on two of the state’s foreclosure industry giants: the Steven J. Baum firm, headquartered in Amherst, N.Y., and Pillar Processing, a default servicing firm set up by Mr. Baum that was spun off in 2007. Representing JPMorgan Chase, Wells Fargo and other large banks, the Baum firm has handled an estimated 40 percent of foreclosure cases in the state. Pillar Processing provides extensive services to the firm.” See full article HERE.
New York Subpoenas 2 Foreclosure-Related Firms
It appears that Florida is not the only state having these types of issues. In a recent New York Times article, linked below, several New York foreclosure mills were the focus of the discussion.