New York state has passed at least two consequential reverse mortgage laws in recent years. In 2019, then-Gov. Andrew Cuomo signed a law that took aim at what supporters called “deceptive ...

“New York's seniors are entitled to the full protection of our laws, whether in their banking transactions or their reverse mortgages,” Vullo said. “These new laws will prevent bad actors ...

Budget legislation recently signed by the Governor introduced an important new pre-foreclosure notice specifically addressing defaults triggering reverse mortgage foreclosures affecting senior ...

Residential Foreclosures: Reverse Mortgages Now Covered in New York Jacob Inwald of Legal Services NYC writes: Important changes governing pre-foreclosure notices and settlement conferences for ...

The New York attorney general's office is investigating reverse-mortgage servicing companies, including a unit of the bank Treasury Secretary nominee Steve Mnuchin ran, according to a person ...

New York has signed into law an amendment redefining a reverse mortgage as a “home loan.” With this amendment, statutory pre-foreclosure ninety day notices (RPAPL 1304) and a “certificate of ...

In addition, if signed into law, compliance with the New York’s HECM bill will be a condition precedent for mortgagees to bring a foreclosure action upon a covered home equity conversion mortgage.

New York Attorney General Eric Schneiderman is investigating practices at reverse-mortgage businesses, including the unit of a bank Treasury Secretary nominee Steven Mnuchin sold to CIT Group in ...