A mortgage loan servicer agreed to pay a $100,000 fine to settle charges, brought by the New York State Department of Financial Services ("NYDFS") for failure to register, secure and maintain certain vacant and abandoned properties.
According to the NYDFS Consent Order, SN Servicing Corporation also agreed to provide confirmation to NYDFS within 30 days that all properties subject to New York's Vacant and Abandoned Property Law have been (i) sufficiently registered with the NYDFS registry of vacant and abandoned properties and (ii) maintained properly, and that all quarterly filings for each property have been submitted.
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