NY A08244

Increases the maximum annual registration fee that municipalities can impose on residential mortgages in default from $75 to $300

Maintains the existing prohibition on mortgagees and their agents passing these registration fees along to mortgagors (borrowers) in default

Creates a new private right of action allowing mortgagors damaged by improper fee pass-throughs to sue for recovery of damages

Allows lawsuits to be filed in multiple venue options including where the violation occurred, where defendants reside, where corporate defendants have principal offices, or where plaintiffs reside

Takes effect immediately upon enactment