senate Bill S7035

2013-2014 Legislative Session

Relates to prohibiting robosigned documents in foreclosure actions

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 21, 2014 referred to housing, construction and community development

S7035 - Details

Current Committee:
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Add ยง1392, RPAP L

S7035 - Summary

Relates to prohibiting robosigned documents in foreclosure actions.

S7035 - Sponsor Memo

S7035 - Bill Text download pdf

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

                                  7035

                            I N  S E N A T E

                             April 21, 2014
                               ___________

Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community Development

AN  ACT  to  amend  the  real  property  actions and proceedings law, in
  relation to foreclosure actions and robosigned documents

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

  Section 1. The real property actions and proceedings law is amended by
adding a new section 1392 to read as follows:
  S  1392.  ROBOSIGNED  DOCUMENTS.  1.  FOR  THE PURPOSE OF THIS SECTION
"ROBOSIGNED DOCUMENT" SHALL MEAN  ANY  DOCUMENT  THAT  CONTAINS  FACTUAL
ASSERTIONS  THAT ARE NOT ACCURATE, ARE INCOMPLETE, OR ARE UNSUPPORTED BY
COMPETENT, RELIABLE EVIDENCE. A "ROBOSIGNED  DOCUMENT"  ALSO  MEANS  ANY
DOCUMENT  THAT  HAS  NOT BEEN REVIEWED BY ITS SIGNER TO SUBSTANTIATE THE
FACTUAL ASSERTIONS CONTAINED IN THE DOCUMENT. FOR PURPOSES OF THIS DEFI-
NITION, MULTIPLE PEOPLE MAY VERIFY THE DOCUMENT OR STATEMENT SO LONG  AS
THE  DOCUMENT OR STATEMENT SPECIFIES THE PORTIONS VERIFIED BY EACH SIGN-
ER.
  2. ANY ENTITY THAT RECORDS A ROBOSIGNED DOCUMENT OR FILES A ROBOSIGNED
DOCUMENT IN ANY COURT RELATIVE TO  A  FORECLOSURE  PROCEEDING  SHALL  BE
LIABLE  FOR A CIVIL PENALTY OF TEN THOUSAND DOLLARS PER ROBOSIGNED DOCU-
MENT. THE CIVIL PENALTIES UNDER  THIS  SECTION  ARE  SEPARATE  FROM  AND
EXCLUSIVE  OF  ANY  OTHER  REMEDIES  OR LIABILITIES THAT MAY APPLY. THIS
SECTION IS NOT INTENDED TO LIMIT THE TYPE  OF  ACTIONS  REGARDING  ROBO-
SIGNED DOCUMENTS THAT MAY BE FILED BY ANY GOVERNMENTAL ENTITY.
  3.  A  BORROWER  MAY SEEK AN ORDER IN ANY COURT HAVING JURISDICTION TO
ENJOIN ANY PENDING  TRUSTEE'S  SALE,  IF  A  NOTICE  OF  SALE  HAS  BEEN
RECORDED, AND THE BORROWER REASONABLY BELIEVES THAT THE MORTGAGEE, TRUS-
TEE, BENEFICIARY, OR AUTHORIZED AGENT FAILED TO COMPLY WITH THE REQUIRE-
MENTS  OF  THIS  SECTION.  A BORROWER WHO OBTAINS AN INJUNCTION SHALL BE
AWARDED REASONABLE ATTORNEY'S FEES AND COSTS.
  4. FOLLOWING A TRUSTEE'S SALE, A BORROWER MAY RECOVER THE  GREATER  OF
ACTUAL  DAMAGES  OR TEN THOUSAND DOLLARS PLUS REASONABLE ATTORNEY'S FEES
AND COSTS IN ANY  COURT  OF  COMPETENT  JURISDICTION,  IF  THE  BORROWER

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

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