NY Probes Banks Over Post-Sandy Mortgage Demands

Law360, New York (March 7, 2013, 2:04 PM EST) -- New York Gov. Andrew Cuomo has launched a review of how banks are treating homeowners affected by Superstorm Sandy after receiving numerous complaints that some are requesting lump sum mortgage payments to make up for forbearances they agreed to grant in the wake of the storm.

The governor said Wednesday that the state's Department of Financial Services would conduct an investigation into the complaints, asking banks to provide information about how they adapted their internal operations so that customers granted forbearances wouldn't receive demands for “late”...
To view the full article, register now.