The legal and constitutional implications of New York’s Foreclosure Abuse Prevention Act (FAPA) are back in the spotlight as the U.S. Court of Appeals for the Second Circuit again turns to the New York Court of Appeals for...more
5/23/2025
/ Appeals ,
Borrowers ,
Constitutional Challenges ,
CPLR ,
Financial Abuse ,
Foreclosure ,
Judicial Authority ,
Lenders ,
Mortgages ,
New York ,
Regulatory Reform ,
Statutory Interpretation
Can the Foreclosure Abuse Prevention Act (FAPA) be applied retroactively? Unfortunately, mortgage noteholders lack a clear response....more
On February 14, 2023, the New York Court of Appeals overturned the Appellate Division, Second Department’s Kessler decision, which had applied a strict application of Real Property Actions and Proceedings Law § 1304, also...more
On December 30, 2022, New York Governor Kathy Hochul signed the Foreclosure Abuse Prevention Act (FAPA) into law. The legislation remained unchanged from its passing back in May 2022 despite many industry experts expecting...more
On May 3, the New York State Senate passed S5473D (Bill), which will apply immediately in all actions “in which a final judgment of foreclosure and sale has not been enforced.” (See S5473D at Section 10.) This means that the...more