A&B ABstract On December 15, 2020, New York State enacted legislation amending the New York Real Property Law that would have placed various restrictions and requirements on the servicing of Home Equity Conversion Mortgages secured by New York properties effective as of April 14, 2021 (the “Foreclosure Law”). The new law would significantly hinder a servicer’s ability to foreclose on a defaulted HECM, and could conflict with existing default procedures promulgated by the Department of Housing and Urban Development (“HUD”) relating to the foreclosure of HECMs. On January 6, 2021, l...