Lenders average 19,000 NY pre-foreclosure notices a month
Mortgage servicers sent 134,000 pre-foreclosure notices to delinquent New Yorkers from Feb. 13 to Aug. 31, according to the New York State Banking Department. That's an average of more than 19,000 per month. On Aug. 6, the Banking Department launched an online system for lenders and servicers to file foreclosure notices and information. Suffolk County, on the eastern portion of Long Island, recorded 19,880 pre-foreclosure notices, the highest of any other. Queens followed with 15,184, and Naussau was third with 13,611. On Oct. 1, new state regulations went into effect, forcing mortgage servicers to pursue foreclosure prevention possibilities for delinquent homeowners. More than half of the notices in the state were filed on mortgages originated between 2005 and 2007, the hottest point of the subprime growth. Richard Neiman, superintendent for New York State banks said the gathered information will help counseling agencies better target at-risk homeowners. “Homeowners are not only notified of the risks that they face, but also about the foreclosure prevention services that are available to them," Neiman said. Write to Jon Prior.