New York’s foreclosure suspension requests up and running
The New York State Superintendent of Banks, Richard Neiman, has a thing for the mortgage servicing industry. By the time 47 state attorneys general and 37 banking and mortgage regulators announced their participation in the multistate effort to address national concerns “about faulty affidavits in foreclosure proceedings,” the New York State Banking Department had already sent letters to over 20 mortgage servicers. New York’s foreclosure action suspension requests are up and running. Neiman called “incredibly irresponsible” those servicers who “are not doing the bare minimum” to comply with existing foreclosure documentation processing laws to avoid preventable foreclosures.