News & Analysis as of

Foreclosure › New Legislation

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Snell & Wilmer

Nevada Enacts the Uniform Mortgage Modification Act

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The State of Nevada has enacted the Uniform Mortgage Modification Act (UMMA or the Act) as Assembly Bill 192, which will become effective on October 1, 2025. The UMMA was prepared by the National Conference of Commissioners...more

McGlinchey Stafford

Second Department Holds Judicial Estoppel Bars Application of FAPA

McGlinchey Stafford on

On July 16, 2025, the Appellate Division, Second Department declined to apply the Foreclosure Abuse Prevention Act (FAPA) to a mortgage foreclosure commenced prior to FAPA’s enactment, pursuant to the doctrine of judicial...more

Sheppard Mullin Richter & Hampton LLP

California Enacts New Mortgage Servicing and Foreclosure Standards

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On June 30, California Governor Newsom has signed AB 130, a budget trailer bill related to housing. This legislation includes new requirements for mortgage servicers of subordinate mortgages, defined in the bill, and took...more

Ballard Spahr LLP

Congress Passes Legislation to Help Protect Veterans from Foreclosure by Reauthorizing Partial Claims with VA Home Loans

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The U.S. Senate recently passed H.R. 1815, the VA Home Loan Program Reform Act, to reauthorize partial claims with U.S. Department of Veterans Affairs (VA) guaranteed home loans. The U.S. House of Representatives passed the...more

Alston & Bird

California Quickly Enacts New Mortgage Servicing Standards That Can Affect Foreclosures

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What Happened? On June 30, 2025, California Governor Gavin Newsom signed into law, with an immediate effective date, California Assembly Bill 130, a significant housing bill that, notably renders certain mortgage servicer...more

Bradley Arant Boult Cummings LLP

New California Law Threatens to Stall All Second Lien Foreclosures

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On June 30, 2025, California Gov. Gavin Newsom signed a large “budget trailer” bill that will have significant consequences on the mortgage industry. In relevant part, the new law addresses foreclosures on so-called zombie...more

Chambliss, Bahner & Stophel, P.C.

Tennessee Foreclosure Bill to Update Advertising Requirements

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On July 1, 2025, the amended Tennessee Code Annotated, § 35-5-101 took effect, bringing several important changes to the foreclosure process in Tennessee:...more

Poyner Spruill LLP

Key Updates to Foreclosure Sales in NC

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Beginning on October 1, 2024, Senate Bill 319 introduced certain changes to the foreclosure sale process including changes to the statute establishing the place of sale, the authorization of remote bidding in foreclosure...more

Snell & Wilmer

Recently Enacted California Assembly Bill 2424 and Its Impact on Non-Judicial Foreclosure Procedures

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The California legislature recently passed Assembly Bill 2424, which, as more fully explained below, will have a significant and imminent impact on the nonjudicial foreclosure process of residential real estate. Existing...more

Nelson Mullins Riley & Scarborough LLP

Reacting to Tyler v. Hennepin County: Massachusetts Passes Surplus Funds Revisions

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In a landmark shift towards protecting delinquent taxpayer’s interest in surplus funds generated from tax lien foreclosures, Massachusetts enacted a law as a part of its 2025 budget to revise the way surplus funds are...more

Sheppard Mullin Richter & Hampton LLP

Navigating California’s New Foreclosure Laws: A Guide for Institutions

Sheppard Mullin Richter & Hampton LLP on

In the ever-evolving landscape of residential real estate, California is once again at the forefront with the passage of Assembly Bill (AB) 1837 and AB 2170, which became effective on January 1, 2023. Aimed at increasing...more

Goodwin

New York Courts Split on the Constitutionality of the Foreclosure Abuse Prevention Act

Goodwin on

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

Mitchell, Williams, Selig, Gates & Woodyard,...

Arkansas Businesses Should Prepare for New Laws Passed by the State Legislature

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The Arkansas General Assembly adjourned from its 94th Regular Session on May 1, 2023, starting a 90-day clock until acts passed by the General Assembly become the law of Arkansas. Business owners, professionals and...more

Perkins Coie

The Foreclosure Abuse Prevention Act is Now Law

Perkins Coie on

On December 30, 2022, New York Governor Kathy Hochul signed into law the Foreclosure Abuse Prevention Act (FAPA) after the bill’s passage by both the New York state senate and the assembly. FAPA is a direct response to a New...more

Orrick, Herrington & Sutcliffe LLP

NY restricts lenders’ ability to reset statute of limitations on foreclosures

Orrick, Herrington & Sutcliffe LLP on

In December, the New York governor signed A 7737-B, the “Foreclosure Abuse Prevention Act,” which amends the rights of parties in foreclosure actions....more

Mayer Brown

New York Enacts Retroactive Foreclosure Legislation

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While many around the world are setting their calendars forward for the year 2023, residential mortgage loan owners and servicers may need to also look backward in time now that New York Governor Kathy Hochul signed the...more

Miller Nash LLP

Washington’s New Statutory Wage Lien: How Wage Liens Impact Secured Creditors’ Rights

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Washington’s recently enacted Washington Wage Recovery Act, SB 5355 (the “Act”), creates a new statutory lien for employees’ unpaid wage claims against their employers. The Act has significant implications for employees,...more

Cadwalader, Wickersham & Taft LLP

Bring On Q4 - September 2021 - COVID-19 Update: New York Governor Signs New Moratorium Effective until January 15, 2022

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On September 2, 2021, New York Governor Kathy Hochul signed into law a new moratorium on evictions and foreclosures for residential tenants and small businesses. Recently, in the case Chrysafis v. Marks, the U.S. Supreme...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: New York Governor Signs New Moratorium Effective until January 2022

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On September 2, 2021, New York Governor Kathy Hochul signed into law a new moratorium on evictions and foreclosures for residential tenants and small businesses.  Recently, in the case Chrysafis v. Marks, the U.S. Supreme...more

Snell & Wilmer

Oregon Legislature Imposes New Foreclosure Moratorium Which May Be Extended Through December 31, 2021, But Most Commercial...

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After not taking action and allowing the 2020 foreclosure moratorium to expire on December 31, 2020 (“2020 Act”), the Oregon legislature took action in May to pass House Bill 2009 (the “2021 Act” or the “Act”), reinstating...more

Woods Rogers

Important Changes to Virginia Foreclosure Law

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Virginia House Bill 2175, which goes into effect on July 1, 2021, makes dramatic changes to the procedure for conducting foreclosure sales in Virginia. Under the new law, the notice of the foreclosure sale for...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Eviction and Foreclosure Moratorium until August 31

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On May 5, 2021, New York Governor Andrew Cuomo signed a bill that extends the moratorium on evictions and foreclosures for residential tenants and small businesses to August 31, 2021. The previous moratorium expired May 1,...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Eviction Protections for Small Businesses That Demonstrate a Financial Hardship

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In December, New York Governor Andrew Cuomo signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020, which provided a moratorium on residential eviction and foreclosure proceedings until May 1, 2021....more

Farrell Fritz, P.C.

Governor Cuomo Signs the COVID-19 Emergency Protect Our Small Businesses Act of 2021 Establishing Eviction and Foreclosure...

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Governor Andrew M. Cuomo this week signed the COVID-19 Emergency Protect Our Small Business Act of 2021 (S471A/A3207) (the “Act”), which will impact commercial landlords, tenants, mortgagors, and mortgagees.  ...more

Harris Beach Murtha PLLC

Help or Harm? New Legislation Aimed at Helping Tenants and Borrowers Impacted by COVID Causes Concern for Landlords and Lenders

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In his recent State of the State Address, New York Governor Andrew Cuomo indicated a desire to stay mortgage foreclosures, commercial evictions and foreclosures through May 1, 2021. On March 9, 2021, the Governor’s desires...more

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