Proposed revisions to 22 NYCRR §202.12-a Residential Mortgage Foreclosure Actions; Settlement Conference

SUMMARY

The Task Force on Mortgage Foreclosure suggested proposed revisions to 22 NYCRR Section 202.12-a(c)(2) relating to settlement conferences in residential foreclosure actions. The proposed revisions would add language which: 1) explicitly states that workout options include but are not limited to loan modifications; and 2) requires that any representative participating in a settlement conference be fully authorized to dispose of the case.