The parties involved support U.S. Bank National Association's petition in U.S. Bank v. Fox regarding the constitutionality of FAPA's retroactive application. FAPA imposes stricter time limits for lenders to refile foreclosure cases, affecting previously decided cases. The uncertainty from FAPA’s enforcement is viewed as harmful to the mortgage industry nationwide, violating due process and takings clauses. Michael DeRosa emphasized its consequences for New York's foreclosure process. The brief argues that Supreme Court intervention is essential for preserving due process and stabilizing the lending environment.
FAPA aims to prevent abusive foreclosure practices by putting stricter time limits on when lenders can refile foreclosure cases.
The brief urges the Supreme Court to hear U.S. Bank's argument that FAPA is unconstitutional, saying that FAPA's retroactivity has sown confusion and unpredictability throughout New York's judicial foreclosure system.
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