Do you support this bill?

Assembly Bill A2131A

2023-2024 Legislative Session

Relates to mortgage loan servicers

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

Bill Amendments

co-Sponsors

multi-Sponsors

2023-A2131 - Details

See Senate Version of this Bill:
S564
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §595-b, Bank L
Versions Introduced in Other Legislative Sessions:
2019-2020: A10851, S8789
2021-2022: A2428, S2143
2025-2026: A3348, S70

2023-A2131 - Summary

Provides that any person who has been injured by reason of any violation of any such rules, regulations or policies as the superintendent may promulgate may bring an action in his or her own name; assert a counterclaim; or, if an action is commenced by the mortgagee or anyone acting on its behalf, bring a third party claim, against either the mortgagee and/or the mortgage servicer to enjoin any violations thereof; authorizes damages

2023-A2131 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2131
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2023
                                ___________
 
 Introduced  by  M.  of  A.  DINOWITZ,  SEAWRIGHT, SIMON, DICKENS, GLICK,
   TAPIA, FORREST -- Multi-Sponsored by -- M. of  A.  McDONOUGH  --  read
   once and referred to the Committee on Banks
 
 AN ACT to amend the banking law, in relation to mortgage loan servicers
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 595-b of the banking law is amended by  adding  two
 new subdivisions 3 and 4 to read as follows:
   3.  ACTIONS AND DAMAGES. (A) ANY PERSON WHO HAS BEEN INJURED BY REASON
 OF ANY VIOLATION OF ANY SUCH  RULES,  REGULATIONS  OR  POLICIES  AS  THE
 SUPERINTENDENT  MAY  PROMULGATE TO EFFECTUATE THE PURPOSES OF THIS ARTI-
 CLE, INCLUDING BUT NOT LIMITED  TO  3  NYCRR  419  OR  ANY  SUBSEQUENTLY
 PROMULGATED MORTGAGE SERVICING RULES PURSUANT TO THIS SUBDIVISION, MAY:
   (I) BRING AN ACTION IN HIS OR HER OWN NAME;
   (II) ASSERT A COUNTERCLAIM; OR
   (III)  IF  AN ACTION IS COMMENCED BY THE MORTGAGEE OR ANYONE ACTING ON
 ITS BEHALF, BRING A THIRD PARTY  CLAIM,  AGAINST  EITHER  THE  MORTGAGEE
 AND/OR THE MORTGAGE SERVICER TO ENJOIN ANY VIOLATIONS THEREOF.
   (B) THE PERSON INJURED PURSUANT TO THIS SECTION:
   (I)  MAY  RECOVER  STATUTORY  DAMAGES  OF  ONE  THOUSAND  DOLLARS  PER
 VIOLATION;
   (II) MAY RECOVER TREBLE ACTUAL DAMAGES; AND
   (III) IF AWARDED DAMAGES OR INJUNCTIVE RELIEF, SHALL ALSO BE  ENTITLED
 TO  RECOVER  COSTS AND EXPENSES, INCLUDING BUT NOT LIMITED TO REASONABLE
 ATTORNEYS' FEES.
   (C) THE MORTGAGEE AND THE  MORTGAGE  SERVICER  SHALL  BE  JOINTLY  AND
 SEVERALLY  LIABLE  FOR  ANY  RECOVERIES  BY  AN INJURED MORTGAGOR IN ANY
 ACTION BROUGHT PURSUANT TO THIS SUBDIVISION.
   4. COMPLIANCE WITH RULES, REGULATIONS OR POLICIES. COMPLIANCE WITH ANY
 SUCH RULES, REGULATIONS OR POLICIES AS THE SUPERINTENDENT MAY PROMULGATE
 TO EFFECTUATE THE PURPOSES OF THIS ARTICLE, INCLUDING BUT NOT LIMITED TO
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00882-01-3

co-Sponsors

multi-Sponsors

2023-A2131A (ACTIVE) - Details

See Senate Version of this Bill:
S564
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §595-b, Bank L
Versions Introduced in Other Legislative Sessions:
2019-2020: A10851, S8789
2021-2022: A2428, S2143
2025-2026: A3348, S70

2023-A2131A (ACTIVE) - Summary

Provides that any person who has been injured by reason of any violation of any such rules, regulations or policies as the superintendent may promulgate may bring an action in his or her own name; assert a counterclaim; or, if an action is commenced by the mortgagee or anyone acting on its behalf, bring a third party claim, against either the mortgagee and/or the mortgage servicer to enjoin any violations thereof; authorizes damages

2023-A2131A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2131--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2023
                                ___________
 
 Introduced  by  M.  of  A.  DINOWITZ,  SEAWRIGHT, SIMON, DICKENS, GLICK,
   TAPIA, FORREST -- Multi-Sponsored by -- M. of  A.  McDONOUGH  --  read
   once  and  referred to the Committee on Banks -- committee discharged,
   bill amended, ordered reprinted as amended  and  recommitted  to  said
   committee

 AN ACT to amend the banking law, in relation to mortgage loan servicers
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 595-b of the banking law is amended by  adding  two
 new subdivisions 3 and 4 to read as follows:
   3.  ACTIONS AND DAMAGES. (A) ANY PERSON WHO HAS BEEN INJURED BY REASON
 OF ANY VIOLATION OF ANY SUCH  RULES,  REGULATIONS  OR  POLICIES  AS  THE
 SUPERINTENDENT  MAY  PROMULGATE TO EFFECTUATE THE PURPOSES OF THIS ARTI-
 CLE, INCLUDING BUT NOT LIMITED  TO  3  NYCRR  419  OR  ANY  SUBSEQUENTLY
 PROMULGATED MORTGAGE SERVICING RULES PURSUANT TO THIS SUBDIVISION, MAY:
   (I) BRING AN ACTION IN HIS OR HER OWN NAME;
   (II) ASSERT A COUNTERCLAIM; OR
   (III)  IF  AN ACTION IS COMMENCED BY THE MORTGAGEE OR ANYONE ACTING ON
 ITS BEHALF, BRING A THIRD PARTY  CLAIM,  AGAINST  EITHER  THE  MORTGAGEE
 AND/OR THE MORTGAGE SERVICER TO ENJOIN ANY VIOLATIONS THEREOF.
   (B) THE PERSON INJURED PURSUANT TO THIS SECTION:
   (I)  MAY  RECOVER  STATUTORY  DAMAGES  OF  ONE  THOUSAND  DOLLARS  PER
 VIOLATION;
   (II) MAY RECOVER TREBLE ACTUAL DAMAGES; AND
   (III) IF AWARDED DAMAGES OR INJUNCTIVE RELIEF, SHALL ALSO BE  ENTITLED
 TO  RECOVER  COSTS AND EXPENSES, INCLUDING BUT NOT LIMITED TO REASONABLE
 ATTORNEYS' FEES.
   (C) THE MORTGAGEE AND THE  MORTGAGE  SERVICER  SHALL  BE  JOINTLY  AND
 SEVERALLY  LIABLE  FOR  ANY  RECOVERIES  BY  AN INJURED MORTGAGOR IN ANY
 ACTION BROUGHT PURSUANT TO THIS SUBDIVISION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00882-04-3
 A. 2131--A                          2

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.