NYDFS RELEASES FINAL RULE FOR VACANT AND ABANDONED PROPERTY

On  December 7, 2016 the New York State Department of Financial Services released the Final Rule pretaining to vacant and abandoned property. The legislation is effective on December 20, 2016. The New York Mortgage Bankers Association has performed a complete analysis of the changes in the Final Rule, as opposed to the Proposed Rule. The NYMBA Analysis, Proposed Rule and  Final Rule can be obtained by clicking on the following links: PROPOSED RULE FINAL RULE NYMBA ANALYSIS

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