S 9309 NY

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Bill No.: Summary Actions Committee&nbspVotes Floor&nbspVotes Memo Text LFIN Chamber&nbspVideo/Transcript S09309 Summary: BILL NO S09309A &nbsp SAME AS SAME AS A09554-B

&nbsp SPONSOR BRISPORT &nbsp COSPNSR SALAZAR &nbsp MLTSPNSR &nbsp Add §595-d, Bank L &nbsp 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.

Go to top S09309 Text:

STATE OF NEW YORK ________________________________________________________________________

9309--A

IN SENATE

February 27, 2026 ___________

Introduced by Sens. BRISPORT, SALAZAR -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- reported favorably from said committee and committed to the Committee on Judi- ciary -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee

AN ACT to amend the banking law, in relation to enacting the "deed protection act"

The People of the State of New York, represented in Senate and Assem- bly, do enact as follows:

1 Section 1. Short title. This act shall be known and may be cited as 2 the "deed protection act". 3 § 2. The banking law is amended by adding a new section 595-d to read 4 as follows: 5 § 595-d. Foreclosure dependent on fraudulent title prohibited. 1. No 6 mortgage banker or mortgage loan servicer shall commence, maintain, or 7 proceed with a foreclosure action on a mortgage loan where such mortgage 8 banker or mortgage loan servicer knows or has reason to know that the 9 mortgage securing such loan is dependent on a deed, conveyance, or other 10 instrument affecting title to residential real property that was 11 procured by fraud, forgery, or other unlawful means, such that the mort- 12 gagor did not obtain a valid interest in the property. 13 2. Prior to commencing a foreclosure action, a mortgage banker or 14 mortgage loan servicer shall conduct a reasonable review of the mortgage 15 loan and available records to determine whether there is a reasonable 16 basis to believe that such mortgage loan is secured by a valid and 17 enforceable interest in the mortgaged residential real property. 18 3. Nothing in this section shall be construed to limit or impair any 19 right or remedy available at law or in equity relating to fraud, 20 forgery, or other unlawful acts affecting title to residential real 21 property. 22 4. A violation of this section shall constitute a violation of this 23 article. 24 § 3. This act shall take effect immediately.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14344-06-6

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