Assembly Actions - Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 02, 2016 | reported referred to rules |
May 25, 2016 | referred to judiciary |
Archive: Last Bill Status - In Assembly Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Your Voice
Actions
Co-Sponsors
Alicia Hyndman
A10373 (ACTIVE) - Details
A10373 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10373 I N A S S E M B L Y May 25, 2016 ___________ Introduced by 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 foreclosure of mortgages THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 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: S 1302. Foreclosure of [high-cost home loans and subprime home loans] MORTGAGES. 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 bank- ing 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 section thirteen hundred four of this article. 2. It shall be a defense to an action to foreclose a mortgage [for a high-cost home loan or subprime home loan] that the terms of the home loan or the actions of the lender violate any provision of section six-l or six-m of the banking law or section thirteen hundred four of this article. S 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law and shall apply to actions commenced on or after such date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15267-01-6