Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 06, 2016 |
referred to codes |
Feb 12, 2015 |
referred to codes |
Senate Bill S3572
2015-2016 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Codes 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
Actions
2015-S3572 (ACTIVE) - Details
- Current Committee:
- Senate Codes
- Law Section:
- Penal Law
- Laws Affected:
- Amd §187.00, add §§187.30 & 187.35, Pen L
- Versions Introduced in 2013-2014 Legislative Session:
-
S3491
2015-S3572 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3572 TITLE OF BILL: An act to amend the penal law, in relation to residential mortgage foreclosure fraud prevention PURPOSE OR GENERAL IDEA OF BILL: To protect New Yorkers facing the foreclosure of their homes from "robosigning" and other fraudulent business practices during the foreclosure process by imposing both misdemeanor and felony-level penalties on those who intentionally engage in such conduct and on "high managerial agents" of residential mortgage businesses who recklessly tolerate such fraudulent conduct by their employees and agents. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends Penal Law section 187.00 to add seven new definitional subdivisions, including a definition of "residential mortgage foreclosure fraud," which is committed by a person who, being an employee or agent of a residential mortgage business acting within the scope of his or her employment, intentionally engages in fraud or deception by authorizing, preparing, executing, offering or presenting for filing any written instrument which such person: (a) knows
2015-S3572 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3572 2015-2016 Regular Sessions I N S E N A T E February 12, 2015 ___________ Introduced by Sen. ESPAILLAT -- read twice and ordered printed, and when printed to be committed to the Committee on Codes AN ACT to amend the penal law, in relation to residential mortgage fore- closure fraud prevention THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 187.00 of the penal law is amended by adding seven new subdivisions 5, 6, 7, 8, 9, 10 and 11 to read as follows: 5. "RESIDENTIAL MORTGAGE FORECLOSURE FRAUD" IS COMMITTED BY A PERSON WHO, BEING AN AGENT OF A RESIDENTIAL MORTGAGE BUSINESS ACTING WITHIN THE SCOPE OF HIS OR HER EMPLOYMENT, INTENTIONALLY ENGAGES IN FRAUD OR DECEP- TION BY AUTHORIZING, PREPARING, EXECUTING, OFFERING OR PRESENTING FOR FILING ANY WRITTEN INSTRUMENT WHICH SUCH PERSON: (A) KNOWS CONTAINS A MATERIAL FALSE STATEMENT, MATERIAL FALSE INFORMA- TION OR A MATERIAL OMISSION; AND (B) KNOWS OR BELIEVES WILL BE FILED WITH A COURT OR OTHER PUBLIC OFFICE OR PUBLIC SERVANT, INCLUDING BUT NOT LIMITED TO A FEDERAL, STATE OR LOCAL AGENCY, DEPARTMENT OR BUREAU, IN SUPPORT OF OR IN CONJUNCTION WITH A PENDING OR PROSPECTIVE RESIDENTIAL MORTGAGE FORECLOSURE ACTION. 6. "AGENT" SHALL HAVE THE SAME MEANING AS PROVIDED IN PARAGRAPH (A) OF SUBDIVISION ONE OF SECTION 20.20 OF THIS CHAPTER. 7. "HIGH MANAGERIAL AGENT" SHALL HAVE THE SAME MEANING AS PROVIDED IN PARAGRAPH (B) OF SUBDIVISION ONE OF SECTION 20.20 OF THIS CHAPTER. 8. "WRITTEN INSTRUMENT" SHALL HAVE THE SAME MEANING AS PROVIDED IN SUBDIVISION THREE OF SECTION 175.00 OF THIS PART. 9. "RESIDENTIAL MORTGAGE BUSINESS" MEANS A LENDER OR ANY OTHER PART- NERSHIP, CORPORATION, COMPANY, TRUST OR ASSOCIATION ENGAGED IN WHOLE OR IN PART IN THE BUSINESS OF ORIGINATING, GRANTING, SERVICING OR FORECLOS- ING UPON RESIDENTIAL MORTGAGE LOANS. 10. "LENDER" MEANS A MORTGAGE BANKER AS DEFINED IN PARAGRAPH (F) OF SUBDIVISION ONE OF SECTION FIVE HUNDRED NINETY OF THE BANKING LAW OR AN EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08934-01-5
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