NY S03216

Amends Section 1302 of the Real Property Actions and Proceedings Law to expand foreclosure requirements from only high-cost and subprime home loans to all mortgages.

Requires any foreclosure complaint to include an affirmative allegation that the plaintiff is the owner and holder of the mortgage and note, or has been delegated authority to institute the foreclosure action.

Requires plaintiffs to comply with Banking Law Sections 595-a, 6-l, and 6-m, and Real Property Actions and Proceedings Law Section 1304.

Establishes that violations of Banking Law Sections 6-l or 6-m, or Real Property Actions and Proceedings Law Section 1304, constitute a defense to mortgage foreclosure actions.

Takes effect January 1 following enactment and applies to foreclosure actions commenced on or after that date.