Assembly Bill A11465

2009-2010 Legislative Session

Provides that only the owner and holder of a mortgage and note, or its agent, shall have standing to commence a mortgage foreclosure action

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Archive: Last Bill Status - In Senate Committee Rules Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-A11465 (ACTIVE) - Details

See Senate Version of this Bill:
S8174
Current Committee:
Senate Rules
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1302, add §1302-a, RPAP L
Versions Introduced in Other Legislative Sessions:
2011-2012: A629, S697
2013-2014: A1000

2009-A11465 (ACTIVE) - Summary

Provides that only the owner and holder of a mortgage and note, or its agent, shall have standing to commence a mortgage foreclosure action; lack of standing shall be defense that may be raised at any time; requires the plaintiff in a foreclosure action to affirm that it is the holder and owner, or its designed agent, of the subject mortgage and note; the summons and complaint shall include a copy of the original mortgage and note, and all endorsements, assignments and transfers thereof, and any delegations of authority by the owner and holder of the mortgage and note.

2009-A11465 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  11465

                          I N  A S S E M B L Y

                              June 16, 2010
                               ___________

Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Weinstein)
  -- read once and referred to the Committee on Judiciary

AN ACT to amend the  real  property  actions  and  proceedings  law,  in
  relation to standing to commence an action to foreclose a mortgage

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 1302 of the real property  actions
and  proceedings  law, as amended by chapter 472 of the laws of 2008, is
amended to read as follows:
  1. Any complaint served in a proceeding  initiated  pursuant  to  this
article  relating  to  a high-cost home loan or a subprime home loan, as
such terms are defined in section six-l and six-m of  the  banking  law,
respectively,  must  contain  an affirmative allegation that at the time
the proceeding is commenced, the plaintiff[:
  (a) is the owner and holder of the subject mortgage and note,  or  has
been  delegated the authority to institute a mortgage foreclosure action
by the owner and holder of the subject mortgage and note; and
  (b)] has complied with all of the provisions of section  five  hundred
ninety-five-a  of  the banking law and any rules and regulations promul-
gated thereunder, section six-l or six-m of the banking law, and  SUBDI-
VISION  TWO  OF  SECTION  THIRTEEN  HUNDRED  TWO-A  AND section thirteen
hundred four of this article.
  S 2. The real property actions  and  proceedings  law  is  amended  by
adding a new section 1302-a to read as follows:
  S  1302-A.  STANDING  TO  COMMENCE  AN ACTION. 1. NO PERSON SHALL HAVE
STANDING TO COMMENCE AN ACTION PURSUANT TO THIS ARTICLE UNLESS IT IS THE
OWNER AND HOLDER OF THE SUBJECT MORTGAGE AND NOTE, OR HAS BEEN DELEGATED
THE AUTHORITY TO INSTITUTE A MORTGAGE FORECLOSURE ACTION  BY  THE  OWNER
AND  HOLDER  OF  THE  SUBJECT  MORTGAGE  AND  NOTE.  NOTWITHSTANDING THE
PROVISIONS OF SUBDIVISION (E) OF RULE THIRTY-TWO HUNDRED ELEVEN  OF  THE
CIVIL  PRACTICE LAW AND RULES, ANY DEFENSE BASED ON THE PLANITIFF'S LACK
OF STANDING IN A FORECLOSURE PROCEEDING SHALL NOT BE WAIVED IF A DEFEND-
ANT FAILS TO RAISE THE DEFENSE IN A RESPONSIVE  PLEADING  OR  PRE-ANSWER
MOTION TO DISMISS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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