RE: New Property Condition Disclosure Statement Effective March 20, 2024, the amended New York Real Property Law Chapter 50, Article 14 (the “Property Condition Disclosure Act”) will compel all sellers of residential property to complete and deliver a Property Condition Disclosure Statement to a buyer prior to signing a contract of sale. Previously, sellers could […]

RE: Amendment to NYS Property Disclosure Law to take effect in March of 2024 On September 22, 2023 Governor Hochul signed legislation amending the Property Condition Disclosure Act. The new legislation will take effect on March 20, 2024. The amendment repeals the ability of a Seller of residential property to provide a $500.00 credit to […]

RE: loanDepot Cybersecurity Incident We have been made aware of a Cyber Incident involving loanDepot, Inc. Information regarding the scope, impact, and resolution has been limited, but loanDepot has indicated that updates will be posted to https://loandepot.cyberincidentupdate.com/. For transactions involving the payoff of a loan where LoanDepot is the payee, servicer, or lender: If the […]

RE: Property Condition Disclosure Statement On September 22, 2023 Governor Hochul signed legislation amending the Property Condition Disclosure Act. The amendment repeals the ability of a Seller of residential property to provide a $500.00 credit to a Purchaser in lieu of completing the Property Condition Disclosure Statement (“PCDS”) AND further amends the PCDS to include […]