Assembly Actions -
Senate Actions - UPPERCASE
|Aug 14, 2020
referred to rules
Senate Bill S8915
2019-2020 Legislative Session
Archive: Last Bill Status - In Senate Committee Rules Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2019-S8915 (ACTIVE) - Details
2019-S8915 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8915 SPONSOR: KENNEDY TITLE OF BILL: An act to amend the real property actions and proceedings law, in relation to prohibiting the registration of mortgages in default prior to the filing of a notice of pendency PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to protect mortgagors in distress from unreasonable fines and other conditions associated with mortgage fore- closure registries. SUMMARY OF PROVISIONS: Section 1 adds a new section 1393 to the real property actions and proceedings law to prohibit municipalities from creating a registry of residential mortgages in default prior to a mortgagee filing a notice of pendency in a court of competent jurisdiction, and to put in place
2019-S8915 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8915 I N S E N A T E August 14, 2020 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the real property actions and proceedings law, in relation to prohibiting the registration of mortgages in default prior to the filing of a notice of pendency 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 1393 to read as follows: § 1393. MORTGAGES IN DEFAULT. 1. NO LOCAL LAW, ORDINANCE OR RESOLUTION SHALL ALLOW FOR THE REGISTRATION OF RESIDENTIAL MORTGAGES IN DEFAULT PRIOR TO A MORTGAGEE FILING A NOTICE OF PENDENCY IN A COURT OF COMPETENT JURISDICTION. 2. NO SUCH LOCAL LAW, ORDINANCE OR RESOLUTION SHALL REQUIRE A HOMEOWN- ER OR OCCUPANT TO REGISTER. 3. ANY LOCAL LAW, ORDINANCE OR RESOLUTION THAT ALLOWS FOR THE REGIS- TRATION OF RESIDENTIAL MORTGAGES IN DEFAULT MAY IMPOSE A REGISTRATION FEE NOT EXCEEDING SEVENTY-FIVE DOLLARS ANNUALLY. A MORTGAGEE AND/OR ITS AGENTS ARE PROHIBITED FROM PASSING ALONG SUCH FEES TO THE MORTGAGOR IN DEFAULT. 4. FOR THE PURPOSES OF THIS SECTION, A MORTGAGE DEFAULT OCCURS WHEN A MORTGAGOR FAILS TO FULFILL ITS OBLIGATIONS UNDER A MORTGAGE AGREEMENT. 5. "REGISTRATION" SHALL MEAN THE COLLECTION, PUBLICATION OR POSTING, PUBLIC OR OTHERWISE, OF RESIDENTIAL MORTGAGES IN DEFAULT BY A LOCAL GOVERNING BODY OR AN AGENCY THEREOF, OR ANY THIRD-PARTY ENTITY THAT CONTRACTS WITH SUCH LOCAL GOVERNING BODY. 6. "NOTICE OF PENDENCY" SHALL HAVE THE SAME MEANING AS DEFINED IN SECTION SIXTY-FIVE HUNDRED ONE OF THE CIVIL PRACTICE LAW AND RULES. 7. A LOCAL GOVERNING BODY, THROUGH A LOCAL LAW, ORDINANCE OR RESOL- UTION, MAY IMPOSE A FINE ON A MORTGAGEE FOR NONCOMPLIANCE WITH THIS SECTION OR ANY LOCAL LAW, ORDINANCE OR RESOLUTION THAT ALLOWS FOR THE REGISTRATION OF RESIDENTIAL MORTGAGES IN DEFAULT. A MORTGAGEE AND/OR ITS AGENTS ARE PROHIBITED FROM PASSING ALONG SUCH FINES TO THE MORTGAGOR IN DEFAULT. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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