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Finally, respondent in default, and the claimant filed this enforcement suit. The applicant requested an expedited procedure and the respondent refused, claiming that the applicant had not set him a 90-day time limit before filing the complaint under FPAPL 1304. That court dismissed the defendant's arguments and allowed the application for expedited proceedings. The only requirement of FPAPL 1304 is that "a creditor, an assignor or a mortgagee" sends this notification.
In addition, a creditor is further identified as either (i) a mortgage borrower who is "a natural or legal persons authorised to grant mortgage credits in that State in accordance with [Banking Act 591]"; or (ii) an "exempt company" such as: (i) a mortgage borrower who is "a natural or legal persons authorised to grant mortgage credits in that State in accordance with [Banking Act 591]": every insurer, financial institution, overseas financial institution authorized by the sovereign or auditor of the currency to conduct operations in that state, central government agency, central saving institution, central saving institution, cooperative society, cooperative society or financial institution, trustee, provident society, provident society, saving society or cooperative cooperative society organised under the law of any other state, or any instrument established by the United States or any state authorized to grant mortgage lending.