N.Y. Real Property Actions & Proceedings Law Section 1302
Foreclosure of certain residential mortgages

1.

Any complaint served in a proceeding initiated on a residential mortgage covering a one to four family dwelling pursuant to this article must contain an affirmative allegation that at the time the proceeding is commenced, the plaintiff:

(a)

is the owner and holder of the subject mortgage and note, or has been delegated the authority to institute a mortgage foreclosure action by the owner and holder of the subject mortgage and note; and

(b)

has complied with all of the provisions of Banking Law § 595-A (Regulation of mortgage brokers, mortgage bankers and exempt organizations)section five hundred ninety-five-a of the banking law and any rules and regulations promulgated thereunder, and section six-l or six-m of the banking law, for loans governed by section six-l or six-m of the banking law, and § 1304 (Required prior notices)section thirteen hundred four of this article for all residential mortgage loans covering a one to four family dwelling.

2.

It shall be a defense to an action to foreclose a mortgage that the terms of the home loan or the actions of the lender violate any provision of section six-l or six-m of the banking law or § 1304 (Required prior notices)section thirteen hundred four of this article, for loans governed by these provisions.

Source: Section 1302 — Foreclosure of certain residential mortgages, https://www.­nysenate.­gov/legislation/laws/RPA/1302 (updated Mar. 25, 2022; accessed Apr. 27, 2024).

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Accessed:
Apr. 27, 2024

Last modified:
Mar. 25, 2022

§ 1302’s source at nysenate​.gov

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