On May 20, 2025, the New York Court of Appeals agreed to hear constitutional challenges to one aspect of New York’s Foreclosure Abuse Prevention Act (FAPA). ...more
5/27/2025
/ Action to Quiet Title ,
Appeals ,
Borrowers ,
Constitutional Challenges ,
Due Process ,
Estoppel ,
Foreclosure ,
Judicial Authority ,
Lenders ,
Mortgage Lenders ,
Mortgages ,
Property Owners ,
Retroactivity ,
Standing ,
Statute of Limitations
Over the last four months, New York’s Appellate Division has finally begun to address constitutional challenges to the state’s Foreclosure Abuse Prevention Act (FAPA), an act that became effective in December 2022 and...more
On September 12, 2024, New York’s highest court dismissed an appeal challenging the constitutionality of the retroactive application of the Foreclosure Abuse Prevention Act (“FAPA”), a law that amended certain New York...more
Welcome to the Mortgage Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
Enforcement efforts are expected to increase in 2024 and will...more
In the six months since New York’s governor signed the Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA), a split has emerged about whether the law applies retroactively....more
7/7/2023
/ Borrowers ,
Constitutional Challenges ,
Consumer Financial Products ,
Financial Services Industry ,
Foreclosure ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
New Legislation ,
Regulatory Reform ,
Rules of Civil Procedure ,
Statute of Limitations