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Assembly Bill A9554B

2025-2026 Legislative Session

Enacts the "deed protection act"

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Current Bill Status - In Senate Committee Judiciary Committee

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Bill Amendments

2025-A9554 - Details

See Senate Version of this Bill:
S9309
Current Committee:
Senate Judiciary
Law Section:
Banking Law
Laws Affected:
Add §595-d, Bank L

2025-A9554 - Summary

Enacts the "deed protection act" in relation to prohibiting a mortgage banker or mortgage loan servicer from commencing, maintaining, or proceeding with a foreclosure action on a mortgage loan where such mortgage banker or mortgage loan servicer knows or has reason to know that the mortgage securing such loan is dependent on a deed, conveyance, or other instrument affecting title to residential real property that was procured by fraud, forgery, or other unlawful means.

2025-A9554 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9554
 
                           I N  A S S E M B L Y
 
                             January 14, 2026
                                ___________
 
 Introduced  by M. of A. MEEKS -- read once and referred to the Committee
   on Banks
 
 AN ACT to amend the banking law,  in  relation  to  enacting  the  "deed
   protection act"
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title. This act shall be known and may  be  cited  as
 the "deed protection act".
   § 2. The banking law is amended by adding a new section 6-q to read as
 follows:
   §  6-Q.  LOANS  OBTAINED BY DEED THEFT. NO FINANCIAL INSTITUTION SHALL
 TAKE POSSESSION OF ANY PROPERTY BASED ON THE FAILURE TO REPAY  ANY  LOAN
 PROVIDED  BY  SUCH  FINANCIAL INSTITUTION FOR SUCH PROPERTY IF SUCH LOAN
 WAS PROVIDED TO A PERSON WHO OBTAINED THE TITLE TO SUCH PROPERTY BY DEED
 THEFT, AND SUCH FINANCIAL INSTITUTION FAILED TO CONDUCT  REASONABLE  DUE
 DILIGENCE  TO  DETERMINE  WHETHER SUCH PERSON OBTAINED THE TITLE TO SUCH
 PROPERTY BY DEED THEFT PRIOR TO PROVIDING SUCH LOAN TO SUCH PERSON.
   § 3. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14344-02-6

co-Sponsors

2025-A9554A - Details

See Senate Version of this Bill:
S9309
Current Committee:
Senate Judiciary
Law Section:
Banking Law
Laws Affected:
Add §595-d, Bank L

2025-A9554A - Summary

Enacts the "deed protection act" in relation to prohibiting a mortgage banker or mortgage loan servicer from commencing, maintaining, or proceeding with a foreclosure action on a mortgage loan where such mortgage banker or mortgage loan servicer knows or has reason to know that the mortgage securing such loan is dependent on a deed, conveyance, or other instrument affecting title to residential real property that was procured by fraud, forgery, or other unlawful means.

2025-A9554A - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9554--A
 
                           I N  A S S E M B L Y
 
                             January 14, 2026
                                ___________
 
 Introduced  by M. of A. MEEKS -- 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 enacting the "deed
   protection act"
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "deed protection act".
   § 2. The banking law is amended by adding a new section 6-q to read as
 follows:
   § 6-Q. LOANS OBTAINED BY DEED THEFT.   1. FOR  THE  PURPOSES  OF  THIS
 SECTION,  DEED  THEFT OCCURS WHEN A PERSON WHO IS NOT THE RIGHTFUL OWNER
 TAKES THE TITLE TO A HOME WITHOUT THE HOMEOWNER'S KNOWLEDGE OR APPROVAL.
   2. NO FINANCIAL INSTITUTION SHALL  TAKE  POSSESSION  OF  ANY  PROPERTY
 BASED ON THE FAILURE TO REPAY ANY LOAN PROVIDED BY SUCH FINANCIAL INSTI-
 TUTION  FOR  SUCH  PROPERTY  IF  SUCH  LOAN WAS PROVIDED TO A PERSON WHO
 OBTAINED THE TITLE TO SUCH PROPERTY BY DEED THEFT,  AND  SUCH  FINANCIAL
 INSTITUTION  FAILED  TO  CONDUCT  REASONABLE  DUE DILIGENCE TO DETERMINE
 WHETHER SUCH PERSON OBTAINED THE TITLE TO SUCH PROPERTY  BY  DEED  THEFT
 PRIOR TO PROVIDING SUCH LOAN TO SUCH PERSON.
   § 3. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14344-03-6

co-Sponsors

2025-A9554B (ACTIVE) - Details

See Senate Version of this Bill:
S9309
Current Committee:
Senate Judiciary
Law Section:
Banking Law
Laws Affected:
Add §595-d, Bank L

2025-A9554B (ACTIVE) - Summary

Enacts the "deed protection act" in relation to prohibiting a mortgage banker or mortgage loan servicer from commencing, maintaining, or proceeding with a foreclosure action on a mortgage loan where such mortgage banker or mortgage loan servicer knows or has reason to know that the mortgage securing such loan is dependent on a deed, conveyance, or other instrument affecting title to residential real property that was procured by fraud, forgery, or other unlawful means.

2025-A9554B (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9554--B
 
                           I N  A S S E M B L Y
 
                             January 14, 2026
                                ___________
 
 Introduced  by  M.  of  A.  MEEKS, MAGNARELLI, REYES, CUNNINGHAM, GLICK,
   SOLAGES,  SCHIAVONI,  WRIGHT,  KASSAY,  P. CARROLL,  RAGA,   LUNSFORD,
   VALDEZ,  STIRPE,  LUPARDO,  McMAHON,  CASHMAN, CLARK, BRONSON, HEVESI,
   LAVINE,  FORREST,  HYNDMAN,   ANDERSON,   LEE,   O'PHARROW,   ALVAREZ,
   DE LOS SANTOS,  HOOKS, SAYEGH, JENSEN -- read once and referred to the
   Committee on Banks --  committee  discharged,  bill  amended,  ordered
   reprinted  as  amended  and  recommitted  to  said  committee -- again
   reported from said committee with  amendments,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to  amend  the  banking  law, in relation to enacting the "deed
   protection act"
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "deed protection act".
   § 2. The banking law is amended by adding a new section 595-d to  read
 as follows:
   §  595-D. FORECLOSURE DEPENDENT ON FRAUDULENT TITLE PROHIBITED.  1. NO
 MORTGAGE BANKER OR MORTGAGE LOAN SERVICER SHALL COMMENCE,  MAINTAIN,  OR
 PROCEED WITH A FORECLOSURE ACTION ON A MORTGAGE LOAN WHERE SUCH MORTGAGE
 BANKER  OR  MORTGAGE  LOAN SERVICER KNOWS OR HAS REASON TO KNOW THAT THE
 MORTGAGE SECURING SUCH LOAN IS DEPENDENT ON A DEED, CONVEYANCE, OR OTHER
 INSTRUMENT  AFFECTING  TITLE  TO  RESIDENTIAL  REAL  PROPERTY  THAT  WAS
 PROCURED BY FRAUD, FORGERY, OR OTHER UNLAWFUL MEANS, SUCH THAT THE MORT-
 GAGOR DID NOT OBTAIN A VALID INTEREST IN THE PROPERTY.
   2.  PRIOR  TO  COMMENCING  A  FORECLOSURE ACTION, A MORTGAGE BANKER OR
 MORTGAGE LOAN SERVICER SHALL CONDUCT A REASONABLE REVIEW OF THE MORTGAGE
 LOAN AND AVAILABLE RECORDS TO DETERMINE WHETHER THERE  IS  A  REASONABLE
 BASIS  TO  BELIEVE  THAT  SUCH  MORTGAGE  LOAN IS SECURED BY A VALID AND
 ENFORCEABLE INTEREST IN THE MORTGAGED RESIDENTIAL REAL PROPERTY.
   3. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT OR  IMPAIR  ANY
 RIGHT  OR  REMEDY  AVAILABLE  AT  LAW  OR  IN  EQUITY RELATING TO FRAUD,
 FORGERY, OR OTHER UNLAWFUL ACTS  AFFECTING  TITLE  TO  RESIDENTIAL  REAL
 PROPERTY.
   4.  A  VIOLATION  OF THIS SECTION SHALL CONSTITUTE A VIOLATION OF THIS
 ARTICLE.
   § 3. This act shall take effect immediately.

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