2021 New York Laws
RPA - Real Property Actions and Proceedings
Article 13 - Action to Foreclose a Mortgage
1302 - Foreclosure of Certain Residential Mortgages.

* § 1302. Foreclosure of high-cost home loans and subprime home loans.
1.    Any  complaint  served  in a proceeding initiated pursuant to this
article relating to a high-cost home loan or a subprime  home  loan,  as
such  terms  are  defined in section six-l and six-m of the banking law,
respectively, must contain an affirmative allegation that  at  the  time
the proceeding is commenced, the plaintiff:
  (a)  is  the owner and holder of the subject mortgage and note, or has
been delegated the authority to institute a mortgage foreclosure  action
by the owner and holder of the subject mortgage and note; and
  (b)  has  complied  with all of the provisions of section five hundred
ninety-five-a  of  the  banking  law  and  any  rules  and   regulations
promulgated  thereunder,  section six-l or six-m of the banking law, and
section thirteen hundred four of this article.
  2. It shall be a defense to an action to foreclose a  mortgage  for  a
high-cost  home  loan  or  subprime home loan that the terms of the home
loan or the actions of the lender violate any provision of section six-l
or six-m of the banking law or section thirteen  hundred  four  of  this
article.
  * NB Effective until January 1, 2022
  * §  1302.  Foreclosure  of  certain  residential  mortgages.  1.  Any
complaint served in a proceeding initiated  on  a  residential  mortgage
covering  a  one  to  four family dwelling pursuant to this article must
contain an affirmative allegation that at the  time  the  proceeding  is
commenced, the plaintiff:
  (a)  is  the owner and holder of the subject mortgage and note, or has
been delegated the authority to institute a mortgage foreclosure  action
by the owner and holder of the subject mortgage and note; and
  (b)  has  complied  with all of the provisions of section five hundred
ninety-five-a  of  the  banking  law  and  any  rules  and   regulations
promulgated  thereunder,  section six-l or six-m of the banking law, for
loans governed by those provisions, and section thirteen hundred four of
this article.
  2. It shall be a defense to an action to foreclose a mortgage that the
terms of the home  loan  or  the  actions  of  the  lender  violate  any
provision  of  section  six-l  or  six-m  of  the banking law or section
thirteen hundred four of this article.
  * NB Effective January 1, 2022