Foreclosure Firm To Close

-Submitted by David Drumm (Nal), Guest Blogger

We have previously discussed the foreclosure firm of Steven J. Baum and the offensive Halloween party where employees mocked foreclosure victims. The firm has filed notifications with government agencies stating their intentions of shutting their doors. The firm employs 89 full- and part-time workers who have to find another source of income to pay their mortgages.

It has been alleged that the Baum firm mishandled mortgage filing on behalf of their clients. The firm settled a claim with the federal government by promising to pay a $2 million fine and change its business practices.

The negative publicity raised by the party photos led mortgage giants Fannie Mae and Freddie Mac to forbid servicers of their mortgages from using Braum’s firm. Without the F&F business, Baum’s firm was doomed.

Baum blames New York Times columnist Joe Nocero for his firm’s demise. It was Joe Nocero who broke the story of the Halloween party that brought nationwide condemnation. Baum wrote, “There is blood on your hands for this one, Joe… I will never, ever forgive you for this.” Nocero responded, “I think that’s what they call shooting the messenger.”

The employees of Baum’s firm have displayed their lack of humanity by mocking the suffering of others. Their lack of shame, as evidenced by trying to blame others for the consequences of their own actions, only reinforces the sense of their inhumanity.

The behavior exhibited by the employees goes way beyond a total lack of empathy for fellow human creatures. A degree of professional detachment is understandable from a psychological defense mechanism point of view. However, the mocking indicates a cruelty that should not be considered acceptable.

H/T: The Consumerist, Buffalo Business First, New York Times.

19 thoughts on “Foreclosure Firm To Close”

  1. Karma! I feel for the employees that did NOT attend this sick excuse for a party and worked there to keep their family fed! Now they will fall with these deserving people!

  2. This year at Thanksgiving, I’m thankful for callous venal buttheads getting their comeuppance, but really, isn’t that something we should be thankful for and strive to achieve every day of the year?

  3. Furthermore … who is going to hire these 89 unemployed individuals? Baum’s firm on one’s resume is not going to open many doors.

  4. “Baum blames New York Times columnist Joe Nocero for his firm’s demise.”

    And mow we know we have Mr Nocero to thank for using the power of the press the way it should be used.

    The other remarkble quote from the article shows Baum’s unrepentent hubris :

    “…Baum wrote, “There is blood on your hands for this one, Joe… I will never, ever forgive you for this.” What would make this clown think a person would want to be forgiven for exposing this obscene party? Does Baum think anyone should be concerned about these folks losing their jobs after mocking those who’ve lost everything?

    The entire firm seems to have adopted a demented twist to the thought about being grateful. In their minds it should read: “I thought I had it hard because I had no shoes, so I made fun of a man who had no feet. It made be feel so superior”

  5. While I detested the party antics as beubg heartless, the mishandling of foreclosure files is reason enough to put this firm out of business. I do feel sorry for any good faith attorney that lst his/her job.

  6. I recall an old proverb about being careful who you step on when you are on your way up. You may need them on your way down.

  7. With that kind of heart they could easily go into foreign aid where they would be able then to mock the 1,000,000 Iraq widows, the 4 million refugees, the not yet fully counted dead and diseased, and the hungry there.

    After all the American democracy that was brought to them, the Iraqi’s need some fun poked at them too.

  8. Poetic justice it would seem. In seems their firm succumed to mob mentality such as causes attrocities like Abu Grabe (sp?) In Iraq. It’s what you get from lack of good oversight.

  9. Ah…. So sad….I have found that misery makers usually find a home with the originator in some form…

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