A New York State Unified Court System has proposed amending the Request for Judicial Intervention to require lenders to identify the mortgage servicer when they initiate a residential mortgage foreclosure case. The move could help improve resolution rates and shorten foreclosure processing timelines.

The court made its proposal at the suggestion of a number of stakeholders involved in mortgage foreclosure cases, including investors, judges, and court staff, said Scott M. Himes, a consumer financial services attorney with Ballard Spahr Stillman & Friedman.

The proposal was issued only a month after the court revised the foreclosure amendment and its settlement conference requirement. Mr. Himes said that it is “simply a line item” requiring the name of the mortgage servicer “even if it is not a party to the action.”

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Consumer Financial Services
Mortgage Banking