New York Senate Bill 9309: Enacts the "deed protection act" in relation to prohibiting a mortgage banker or mortgage loan servicer from commencing, maintaining, or proceeding with a foreclosure action on a mortgage loan where such mortgage banker or mortgage loan servicer knows or has reason to know that the mortgage securing such loan is dependent on a deed, conveyance, or other instrument affecting title to residential real property that was procured by fraud, forgery, or other unlawful means.

New York · 2025-2026 session

Status: Introduced

What it does

Enacts the "deed protection act" in relation to prohibiting a financial institution from taking possession of a property based on the failure to repay a loan provided by such financial institution for such property if such loan was provided to a person who obtained title to such property by deed theft and such financial institution failed to conduct due diligence to determine whether any such deed theft had occurred.

Latest action

PRINT NUMBER 9309A (2026-05-12)

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