|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Oct 22, 2014||enacting clause stricken|
|Jan 08, 2014||referred to judiciary|
|Jan 09, 2013||referred to judiciary|
assembly Bill A1000
Archive: Last Bill Status - STRICKEN
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Ellen C. Jaffee
A1000 - Details
A1000 - 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 prior to the judgment of foreclosure and sale; requires the plaintiff in a foreclosure action to affirm that the plaintiff is the holder and owner, or its designed agent, of the subject mortgage and note; provides that 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.
A1000 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1000 2013-2014 Regular Sessions I N A S S E M B L Y (PREFILED) January 9, 2013 ___________ Introduced by M. of A. WEINSTEIN, CLARK, COLTON, WEPRIN, CASTRO, JAFFEE, WRIGHT -- Multi-Sponsored by -- M. of A. ABINANTI, PERRY, SCHIMEL, SWEENEY -- 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 ON A HOME LOAN. 1. NO PERSON SHALL HAVE STANDING TO COMMENCE AN ACTION PURSUANT TO THIS ARTICLE TO FORECLOSE ON A HOME LOAN, AS DEFINED IN PARAGRAPH (A) OF SUBDIVISION FIVE OF SECTION THIRTEEN HUNDRED FOUR OF THIS ARTICLE, UNLESS IT IS THE OWNER AND HOLDER OF THE SUBJECT MORTGAGE AND NOTE, OR HAS BEEN DELEGATED EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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