New York Community Bank

While it’s unusual for the court to require a bank to advance funds in a foreclosure case, New York Community Bank has been cited in the past for selling distressed mortgages to unresponsive landlords.

According to a 2011 study by a housing organization, New York Community Bank held the mortgages on 143 distressed properties comprised of 8,889 individual apartment units. This was more than the next three biggest lenders combined.

Facing pressure from housing advocates and regulators, last year the bank agreed to sell the mortgages on four distressed properties at a discounted price to a non-profit housing developer. NYCB has also agreed to give non-profit developers a two-week head start on purchasing distressed mortgages before opening up the process to other bidders.