New York A01608 amends real property laws to enforce penalties for failing to report vacant and abandoned properties, and to facilitate information.

New York A01608 amends the real property actions and proceedings law to establish stricter penalties for lenders, assignees, and mortgage loan servicers who fail to report vacant and abandoned properties. The bill mandates that these entities submit detailed information about such properties to the Department of Financial Services within 21 business days of recognizing the property as vacant and abandoned. The information must include contact details for the responsible parties and details about any foreclosure actions.

New York A01608 amends real property laws to enforce penalties for failing to report vacant and abandoned properties, and to facilitate information.

New York A01608 amends the real property actions and proceedings law to establish stricter penalties for lenders, assignees, and mortgage loan servicers who fail to report vacant and abandoned properties. The bill mandates that these entities submit detailed information about such properties to the Department of Financial Services within 21 business days of recognizing the property as vacant and abandoned. The information must include contact details for the responsible parties and details about any foreclosure actions.