Category Archives: news

UPDATE: Signed into NY law by Governor Cuomo

The COVID-19 Emergency Eviction and Foreclosure Prevention Act (S.9114 / A.11181) (the “Act”) is expected to pass the New York legislature in Special Session on Monday, December 28th. It will then go before the governor for approval. The stated intent of the Act is to avoid evictions and foreclosure proceedings for persons experiencing financial hardship during the COVID-19 pandemic and to protect persons who cannot move due to an increased risk of severe illness or death.

UPDATE 12/24/20
AFTER A FLURRY OF ACTIVITY OVER THE LAST FEW DAYS AND BASED ON PRIVATE LENDER LAW’S OPPOSITION PAPER (SEE ATTACHED) SUBMITTED TO GOVERNOR CUOMO’S OFFICE ON BEHALF OF THE NPLA

THIS BILL WILL AFFECT PRIVATE LENDERS DOING BUSINESS IN NEW YORK WHICH MAKE BRIDGE LOANS AND TERM LOANS SECURED BY 1-TO-4 AND MULTI-FAMILY HOUSING.

On December 11, 2020, the New York legislature delivered a bill for Governor Cuomo’s signature that requires specific disclosures to be provided to certain commercial financing transactions.

“Rapid e-Closing,” the solution for social distancing

NEW YORK, NY – As this global pandemic continues, private lenders, nationwide, are faced with the challenge of how to safely and quickly close loans in these lockdown conditions. Private Lender Law, the practice group of LaRocca Hornik Rosen & Greenberg (LHR&G), announced today a revolutionary service that enables remote loan closings that will offer a unique solution for traditional in-person transactions.

On behalf of the National Private Lender’s Association (NPLA), Private Lender Law (PLL) has completed our preliminary review of the pending anti-fix & flip legislation and political landscape in New York State in order to evaluate the likelihood of its passage.