NY Considers LAW Criminalizing Every Person Who Participates in Fraudulent Foreclosures

http://4closurefraud.org/2013/05/23/the-foreclosure-fraud-prevention-act-a-g-schneiderman-commends-assembly-for-passing-foreclosure-relief-bills/

A.G. Schneiderman Commends Assembly for Passing Foreclosure Relief Bills

Bills Will Help Prevent New York Homeowners From Getting Trapped In The Growing “Shadow Docket” Of Frozen Foreclosure Cases; Schneiderman: These Bills Will Help Protect Homeowners From Wrongful Foreclosures And Keep More New Yorkers In Their Homes

(NEW YORK)- Attorney General Eric T. Schneiderman today praised the New York State Assembly for passing two important pieces of legislation aimed at protecting homeowners in New York. The “Certificate of Merit” bill (A. 5582)would help more New York families avoid foreclosure by enacting common sense reforms to bring greater integrity to the foreclosure process and expedite homeowners’ participation in court-supervised mediation sessions where they can negotiate workable alternatives to foreclosure with their lender. This joint program bill was proposed by the Office of the Attorney General and the Office of Court Administration.

The Foreclosure Fraud Prevention Act (A. 10629) is a program bill proposed by Attorney General Schneiderman that would impose criminal penalties on residential mortgage lenders, servicers and their agents who intentionally engage in fraudulent or deceptive conduct in the preparation, execution or filing of false foreclosure documents. It would also impose criminal penalties on those who, as “high managerial agents” of these businesses, are aware of such conduct by their employees below and fail to stop it.

Both bills are sponsored in the Assembly by Judiciary Committee Chair, Helene Weinstein, and in the Senate by Senate Co-Leader and Independent Conference Leader, Jeff Klein.

Posted in Corruption, Eviction |