Bank of America New York Mortgage Lien Class Action Settlement

You are a Class Member if you meet the definition below:

All persons and/or entities who were the mortgagor party to a residential mortgage on real property located in New York State serviced by Bank of America for which all authorized principal, interest and all other amounts due or otherwise owed by law was completely paid between July 12, 2010 and November 27, 2015, but Bank of America failed to present a certificate of discharge or satisfaction of mortgage within 30 days to the recording officer of the county where the mortgage was recorded (the proposed “Settlement Class”). Serviced means that Bank of America acted as (a) the entity to which payments under the residential mortgage were required to be made or (b) such entity’s personal representative, agent, successor or assign.

Up to $540

A Class Member who timely submits a complete and valid Proof of Claim (an “Authorized Claimant”) shall receive one Claim Payment as follows:

• Authorized Claimants for whom a certificate of discharge or satisfaction of mortgage for a Mortgaged Property was presented to a recording officer for the first time more than 30 days, but less than 61 days, after Satisfaction will receive $260;
• Authorized Claimants for whom a certificate of discharge or satisfaction of mortgage for a Mortgaged Property was presented to a recording officer for the first time more than 60 days, but less than 91 days, after Satisfaction will receive $520;
• Authorized Claimants for whom a certificate of discharge or satisfaction of mortgage for a Mortgaged Property was presented to a recording officer for the first time more than 90 days after Satisfaction will receive $780;
• Authorized Claimants for whom a certificate of discharge or satisfaction of mortgage for a Mortgaged Property was presented to a recording officer but was rejected and subsequently re-presented more than 30 days but less than 61 days after Satisfaction will receive $180;
• Authorized Claimants for whom a certificate of discharge or satisfaction of mortgage for a Mortgaged Property was presented to a recording officer but was rejected and subsequently re-presented more than 60 days but less than 91 days after Satisfaction will receive $360; and
• Authorized Claimants for whom a certificate of discharge or satisfaction of mortgage for a Mortgaged Property was presented to a recording officer but was rejected and subsequently re-presented more than 90 days after Satisfaction will receive $540.

Mortgage #

You can use the validation tool here to see if you are part of this settlement

Click Here to Complete Your Bank of America New York Mortgage Claim Form

Adler v. Bank of America Settlement
Civil Action File No. 13-cv-4866 (VB) and Civil Action File No. 14-cv-0947 (VB).
United States District Court Southern District of New York

According to the settlement Bank of America failed to timely present to the appropriate New York State recording officer certifications that Plaintiffs’ residential mortgages serviced by Bank of America that had been fully satisfied. This was in violation of the New York Real Property Actions and Proceedings Law § 1921 and New York Real Property Law § 275.Defendant denies all the claims in the lawsuit and denies that it has done anything wrong.

N/A

Bank of America New York Lien Class Action Settlement Settlement

07/18/2016

NY Lien Settlement
Settlement Administrator
PO Box 2995
Portland, OR 97208-2995
1-866-800-6756
info@NYLienSettlement.com