NYC Pols, Housing Officials, Advocates Express Ire As Local Bank Continues Dumping Delinquent Debt Secured By Violation-Riddled Apartment Bldgs

In The Bronx, New York, Crain's New York Business reports:

• In the latest in a series of note sales on distressed properties by New York Community Bank, it has unloaded the mortgage on three foreclosed Bronx buildings riddled with code violations, and once again drawn the ire of city officials, politicians and housing advocates.
• In the last year, the bank has sold the mortgages on three dozen buildings “that had significant distress on them,” said RuthAnne Visnauskas, deputy commissioner for development at the city's Department of Housing Preservation and Development.
• “There's obviously nothing wrong with a bank selling a mortgage, but to have 36 buildings with significant code violations have mortgages sold…there should be more involvement on the side of bank to make sure violations are getting corrected and that they don't let it slide just to get it off their books,” Ms. Visnauskas said. “It doesn't feel like the right responsibility nexus.”

For more, see Bronx debt sale triggers storm of protest (Sale of notes on three foreclosed Bronx buildings riddled with code violations blindsides city officials who had been working to find buyer able to fund repairs).