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Mortgages › Regulatory Reform › New York

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Jones Day

New York Legislature Passes Bill Banning Rent Minimum Provisions in Real Estate Loan Documents

Jones Day on

On June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents....more

Troutman Pepper Locke

Proposed New York FAIR Business Practices Act Aims to Expand Consumer Protections Against Unfair, Deceptive, or Abusive Practices

Troutman Pepper Locke on

On March 13, New York State introduced proposed legislation titled the Fostering Affordability and Integrity Through Reasonable Business Practices Act (FAIR Act). The proposed legislation seeks to broaden the scope of...more

Hinshaw & Culbertson - Consumer Crossroads

New York Court of Appeals Accepts Certified Questions on Whether FAPA Should be Retroactively Applied

Hinshaw & Culbertson - Consumer Crossroads on

The New York Court of Appeals has finally agreed to consider whether retroactive application of the Foreclosure Abuse Prevention Act (“FAPA”) (or sections of it) violates the New York Constitution. Over the last two years,...more

Troutman Pepper Locke

FAPA in the Spotlight Again: Second Circuit Renews Call for NY Court of Appeals Review

Troutman Pepper Locke on

The legal and constitutional implications of New York’s Foreclosure Abuse Prevention Act (FAPA) are back in the spotlight as the U.S. Court of Appeals for the Second Circuit again turns to the New York Court of Appeals for...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

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