The First Department ruled in favor of the homeowner in HSBC USA v Lugo 2015 NY Slip Op 03070 on April 14 pointing out:
1. The delay was not willful.
2. The delay did not cause any prejudice to the bank.
3. There was a merit to the affirmative defense with respect to standing.
4. Both parties had engaged in settlement talks for almost 2 years.
There was a very strong dissent.
See http://law.justia.com/cases/new-york/appellate-division-first-department/2015/13454-381904-09.html
Monday, April 27, 2015
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