New York State Introduces Changes to Foreclosure Laws

As members of Legal League 100 and its subcommittees, participating partners from Rosicki, Rosicki & Associates help provide education and advocacy for law firms and service providers across the United States that specialize in default servicing matters. Robert H. King, an associate with Rosicki, Rosicki & Associates, recently published an article in the Legal League 100’s quarterly review that outlines certain changes to New York’s foreclosure laws.

One of the primary changes, according to King, regards the Certificate of Merit Requirement at Commencement. In the fall of 2013, the state codified a rule that attorneys for foreclosure plaintiffs must file a certificate of merit at the beginning of foreclosure proceedings that shows that the plaintiff is entitled to enforce loan documents. The new rule was established to decrease the amount of time between the beginning of foreclosure proceedings and settlement conferences and to get rid of the issue of standing raised by defendants.

Another recent set of changes highlighted by King is new rules regarding the RPAPL §1306 three-step filing process for pre-foreclosure notices sent to borrowers. Publicized by the Department of Financial Services, the changes help the DFS gather data by requiring the filer to include investor information and to report resolutions short of completing the foreclosure.

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