Directs the department of financial services to periodically inspect residential real properties for which a lender has a duty to maintain; authorizes the department of financial services or the municipality to impose a $500 a day civil penalty for the failure of a lender to maintain an abandoned property that it has a duty to maintain; requires such lenders to register with the statewide vacant and abandoned property electronic registry.

Statutes affected:
A8983: 1307 real property actions and proceedings law, 1307(3) real property actions and proceedings law, 1308 real property actions and proceedings law, 1310 real property actions and proceedings law, 1310(2) real property actions and proceedings law