Category Archives: Legislative

NYMBA meets with Governor Cuomo’s Staff

October 25, 2019:  NYMBA, with other industry professionals, met with the Governor’s staff about the need for titling conversion in New York. Currently, manufactured housing is titled as personal property/chattel and there is no mechanism to convert title to real property. New York is the only state that does not allow for title conversion for manufactured housing. With over 190,000 manufactured housing units in New York State, primarily located in rural upstate, western New York, and areas of Long Island and Staten Island, manufactured housing remains a source of…

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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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DFS listens to New York MBA

Peter Dean, Executive Deputy Superintendent and Rholda Rickets, Deputy Superintendent of New York State Department of Financial Services met with New York MBA Executive Board members regarding Federal legislation mandating Temporary Authority for Loan Officers; the new state regulation mandating Credit Reporting Agency Registry and proposed Online Notarization.

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