McCarter & English hosts an interactive forum with industry leaders discussing the New York Foreclosure Abuse Prevention Act’s (“FAPA’s”) impact on the mortgage finance and servicing industries. FAPA is affecting commercial and residential mortgage loan investment, documentation, servicing, and workouts. We discuss the impact FAPA has on lenders, servicers, and investors who invest in whole mortgages loans, or in mixed mortgage pools of performing and non-performing mortgage loans, involving properties located in New York state—regardless of whether they invest in the Primary, Secondary, or Capital Markets for Commercial or Residential Mortgages—due to the potential adverse consequences of these loans being subject to FAPA.
10.4.2023