STATE OF NEW YORK
________________________________________________________________________
3216
2019-2020 Regular Sessions
IN SENATE
February 4, 2019
___________
Introduced by Sen. COMRIE -- read twice and ordered printed, and when
printed to be committed to the Committee on Housing, Construction and
Community Development
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:
1 Section 1. Section 1302 of the real property actions and proceedings
2 law, as amended by chapter 472 of the laws of 2008, is amended to read
3 as follows:
4 § 1302. Foreclosure of [high-cost home loans and subprime home loans]
5 mortgages. 1. Any complaint served in a proceeding initiated pursuant
6 to this article [relating to a high-cost home loan or a subprime home
7 loan, as such terms are defined in section six-l and six-m of the bank-
8 ing law, respectively,] must contain an affirmative allegation that at
9 the time the proceeding is commenced, the plaintiff:
10 (a) is the owner and holder of the subject mortgage and note, or has
11 been delegated the authority to institute a mortgage foreclosure action
12 by the owner and holder of the subject mortgage and note; and
13 (b) has complied with all of the provisions of section five hundred
14 ninety-five-a of the banking law and any rules and regulations promul-
15 gated thereunder, section six-l or six-m of the banking law, and section
16 thirteen hundred four of this article.
17 2. It shall be a defense to an action to foreclose a mortgage [for a
18 high-cost home loan or subprime home loan] that the terms of the home
19 loan or the actions of the lender violate any provision of section six-l
20 or six-m of the banking law or section thirteen hundred four of this
21 article.
22 § 2. This act shall take effect on the first of January next succeed-
23 ing the date on which it shall have become a law and shall apply to
24 actions commenced on or after such date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00876-01-9
