New York A07708 aims to prevent fraudulent deed transfers by requiring explicit language in deeds and prohibiting transfers from borrowers to.

New York A07708 amends the real property and banking laws to protect homeowners from fraudulent deed transfers. It mandates that deeds include explicit language warning the transferor of ownership transfer and requires notarized signatures. Additionally, it prohibits deed transfers from borrowers to mortgage servicers as part of mortgage modifications and authorizes investigations and civil penalties for violations.

New York A07708 aims to prevent fraudulent deed transfers by requiring explicit language in deeds and prohibiting transfers from borrowers to.

New York A07708 amends the real property and banking laws to protect homeowners from fraudulent deed transfers. It mandates that deeds include explicit language warning the transferor of ownership transfer and requires notarized signatures. Additionally, it prohibits deed transfers from borrowers to mortgage servicers as part of mortgage modifications and authorizes investigations and civil penalties for violations.