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DFS fines servicer over zombie properties
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Regulatory Updates
Wednesday, January 23, 2019
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New York Department of Financial Services Superintendent Maria Vullo announced that the department has fined SN Servicing Corp., a New York State-registered mortgage loan servicer, $100,000 for failing to maintain two properties in Gloversville, N.Y., under New York’s Abandoned Property Relief Act, which requires banks and mortgage services to fulfill certain maintenance obligations at “zombie” properties. Read on for more details.
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