Loan Servicers meet with NYS Legislators

October 4, 2019:  Loan Servicing Committee members were asked to meet with some members of the New York State Legislature regarding “Zombie Properties” and foreclosures in the state. Assembly members Fahy and McDonald and Senator Breslin were interested in how bid prices are arrived at for properties at foreclosure auctions. The issue of maintenance and upkeep of vacant properties that are mortgaged was also raised. Jodi Gaines, NYMBA committee chair, provided an overview of the Loan Servicing Committee and the working groups that were formed…

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