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Senate Bill S7933A

2025-2026 Legislative Session

Relates to registrations of residential mortgages in default

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Bill Amendments

2025-S7933 - Details

See Assembly Version of this Bill:
A8244
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1393, RPAP L

2025-S7933 - Summary

Increases fee amount authorized to be imposed on mortgagees or their agents.

2025-S7933 - Sponsor Memo

2025-S7933 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7933
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                               May 14, 2025
                                ___________
 
 Introduced  by  Sen.  COONEY -- 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 a right of action where registration fees are  imposed  on
   mortgagees in default

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivisions 3 and 8 of section 1393 of the  real  property
 actions  and  proceedings  law,  as  added by chapter 600 of the laws of
 2022, are amended to read as follows:
   3. Any local law, ordinance or resolution that allows for  the  regis-
 tration  of  residential  mortgages in default may impose a registration
 fee not exceeding [seventy-five] THREE HUNDRED dollars annually. A mort-
 gagee and/or its agents are prohibited from passing along such  fees  to
 the mortgagor in default.
   8.  RIGHT  OF  ACTION. ANY PERSON THAT HAS BEEN DAMAGED AS A RESULT OF
 THE MORTGAGEE AND/OR ITS AGENTS PASSING DOWN FEES TO  THE  MORTGAGOR  IN
 DEFAULT SHALL BE ENTITLED TO BRING AN ACTION FOR RECOVERY OF DAMAGES IN:
   (A)  THE  COUNTY  IN  WHICH ALL OR A SUBSTANTIAL PART OF THE EVENTS OR
 OMISSIONS GIVING RISE TO THE CLAIM OCCURRED;
   (B) THE COUNTY OF RESIDENCE FOR ANY ONE OF THE  DEFENDANTS  WHO  IS  A
 NATURAL PERSON AT THE TIME THE CAUSE OF ACTION ACCRUED;
   (C) THE COUNTY OF THE PRINCIPAL OFFICE IN THIS STATE OF ANY ONE OF THE
 DEFENDANTS THAT IS NOT A NATURAL PERSON; OR
   (D)  THE  COUNTY  OF RESIDENCE FOR ANY PLAINTIFF IF THE PLAINTIFF IS A
 NATURAL PERSON RESIDING IN THIS STATE.
   9. The provisions of this section shall supersede any local law, ordi-
 nance, or resolution requiring the registration of mortgages in  default
 that was enacted prior to the effective date of this section.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11543-01-5

2025-S7933A (ACTIVE) - Details

See Assembly Version of this Bill:
A8244
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1393, RPAP L

2025-S7933A (ACTIVE) - Summary

Increases fee amount authorized to be imposed on mortgagees or their agents.

2025-S7933A (ACTIVE) - Sponsor Memo

2025-S7933A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7933--A
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                               May 14, 2025
                                ___________
 
 Introduced  by  Sen.  COONEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Housing, Construction  and
   Community  Development  --  recommitted  to  the Committee on Housing,
   Construction and Community Development in accordance with Senate  Rule
   6,  sec. 8 -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the  real  property  actions  and  proceedings  law,  in
   relation to registrations of residential mortgages in default
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 3 of section 1393 of the real property  actions
 and  proceedings  law,  as  added by chapter 600 of the laws of 2022, is
 amended to read as follows:
   3. Any local law, ordinance or resolution that allows for  the  regis-
 tration  of  residential  mortgages in default may impose a registration
 fee not exceeding [seventy-five] THREE HUNDRED dollars annually. A mort-
 gagee and/or its agents are prohibited from passing along such  fees  to
 the mortgagor in default.
   § 2. This act shall take effect immediately.

 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11543-03-6

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