New Statute Eliminates Waiver of Standing Defense
I am pleased to share with you an article I wrote that was recently published in the New York Law Journal. It explores a new statute, RPAPL §1302-a, which effectively preserves a borrower’s ability to challenge the lender’s standing to foreclose. Among other things, I discuss the statute’s effect on title insurance underwriting and the resulting potential devaluation of foreclosed properties. This should be of particular importance if you will ever purchase a property through a foreclosure.
Please feel free to contact me with any questions about the statute or how it may impact your transaction.
Jason Bergman, CRE®
Vice President & Senior Underwriting Counsel
Click below to download and view the article.Download Printable PDF