Senate Bill S66007

Signed By Governor
2009-2010 Legislative Session

Relates to home mortgage loans, the crime of mortgage fraud, and appropriations to the NYS housing trust fund corporation

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • 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

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2009-S66007 (ACTIVE) - Details

See Assembly Version of this Bill:
A40007
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §§1303, 1304, 221 & 713, add §§1305, 1306 & 1307, RPAP L; amd §§9-611 & 9-620, UCC; amd R3408, CPLR; amd §3-a, Chap 472 of 2008; amd §§6-f, 6-l, 6-m, 590 & 595-a, Bank L; amd §187.00, add §187.01, Pen L; amd §265-b RP L

2009-S66007 (ACTIVE) - Summary

Relates to home mortgage loans, the crime of mortgage fraud, and appropriations to the NYS housing trust fund corporation.

2009-S66007 (ACTIVE) - Sponsor Memo

2009-S66007 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 7                                                        A. 7

                     Twentieth Extraordinary Session

                      S E N A T E - A S S E M B L Y

                            November 16, 2009
                               ___________

IN SENATE -- Introduced by Sens. KLEIN, FOLEY, SAMPSON, ESPADA, KRUEGER,
  BONACIC  --  (at  request  of  the Governor) -- read twice and ordered
  printed, and when printed to be committed to the Committee on Rules

IN ASSEMBLY -- Introduced by COMMITTEE ON RULES -- (at request of M.  of
  A.  Weinstein,  Lentol,  Towns, V. Lopez, Titus, Spano, Cook, Brennan,
  Lancman, O'Donnell, P. Rivera) -- (at request of the Governor) -- read
  once and referred to the Committee on Judiciary

AN ACT to amend the real  property  actions  and  proceedings  law,  the
  uniform commercial code, the civil practice law and rules, the banking
  law  and  chapter  472  of the laws of 2008 amending the real property
  actions and proceedings law and other  laws  relating  to  foreclosure
  actions on home mortgage loans, in relation to home mortgage loans; to
  amend  the  penal law, in relation to the crime of mortgage fraud; and
  to amend the real property law, in  relation  to  distressed  property
  consultants;  and  providing for the repeal of certain provisions upon
  expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section 1303 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  1303. Foreclosures; required notices. 1. The foreclosing party in a
mortgage foreclosure action, [which involves] INVOLVING residential real
property [consisting  of  owner-occupied  one-to-four-family  dwellings]
shall provide notice to [the mortgagor]:
  (A)   ANY  MORTGAGOR  IF  THE  ACTION  RELATES  TO  AN  OWNER-OCCUPIED
ONE-TO-FOUR FAMILY DWELLING; AND
  (B) ANY TENANT OF A DWELLING UNIT in accordance with the provisions of
this section [with regard to information and assistance about the  fore-
closure process].

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD12043-20-9
              

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