(a) As enacted by part Q of chapter 73 of the Laws of 2016, Real Property Actions and Proceedings Law (RPAPL) section 1308 requires certain holders of first lien mortgages to inspect, secure and maintain vacant and abandoned one to four family residential real property and section 1310 establishes a statewide vacant and abandoned property registry in the form of an electronic database to be maintained by the Department of Financial Services (the department).

(b) RPAPL sections 1308(12) and 1310(4) authorize the Superintendent of Financial Services (superintendent) to issue the rules and regulations necessary to implement RPAPL sections 1308 and 1310.

(c) This Part establishes rules necessary to implement RPAPL sections 1308 and 1310.