On February 27, 2024 a
Party Statement
was filed
involving a dispute between
New City Funding Corp.,
and
Brandon J. Thompson,
for Other Matters - Consumer Credit (Non-Card) Transaction
in the District Court of Yates County.
Preview
FILED: YATES COUNTY CLERK 02/27/2024 02:02 PM INDEX NO. 2024-5047
NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 02/27/2024
STATE OF NEW YORK
SUPREME COURT COUNTY OF YATES
.. ...
NEW CITY FUNDING CORP.
Plaintiff, AFFIDAVIT IN
SUPPORT OF
-vs- COMPLAINT
BRANDON J. THOMPSON
Defendant. Index No.
STATE OF NEW YORK
COUNTY OF ROCKLAND
Ira Steinberg , after being duly sworn, deposes and says:
1. I am employed by Plaintiff New City Funding Corp. as its Vice President. I am
making this affidavit based on Plaintiff's books and records made, obtained, and retained in the
regular course of its business, which it was the regular and ordinary course of its business to make,
obtain, and retain, and which records were made by persons with first-hand knowledge at or about
the time of the events recorded. I am familiar with Plaintiff's books and records by extensive
training at the time I was first employed by Plaintiff as to Plaintiff's business practices, its record
keeping systems and practices, Plaintiff's usual business cycle including assessing motor vehicle
retail installment contracts for purchase, contract administration after purchasing contracts, and
collection activities if a contract goes into default including repossession and sale of consumer
motor vehicles and the notices required in connection therewith. Plaintiff has had long established
policies and practices that I am charged with supervising and enforcing. I have worked for Plaintiff
for { 3 years.
1. Plaintiff is regulated by the NYS Banking Department as a licensed lender under
Banking Law sec. 340 et seq. Plaintiff is authorized to make consumer loans of up to $25,000.00
1 of 3
FILED: YATES COUNTY CLERK 02/27/2024 02:02 PM INDEX NO. 2024-5047
NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 02/27/2024
.
at rates up to 25.00% and to act as a financing entity in respect to the sale of consumer motor
vehicles under retail installment contracts pursuant to New York Personal Property Law Article 9.
2. After default and repossession Plaintiff notified Defendant of the repossession,
offered Defendant an opportunity to redeem the Vehicle and advised Defendant of the plan to
dispose of the vehicle at a private sale if not redeemed. A copy of the Notice sent to Defendant is
annexed to the Complaint.
3. Defendant failed to redeem the Vehicle.
4. Plaintiff disposed of the Vehicle by having the Vehicle transported to an auto
auction for sale. Plaintiff selected a disposition by a private auction at an auto auction because a)
sale at auto auctions is the predominate method of banks, financial companies, and other consumer
vehicle lenders to dispose of collateral; b) auto auctions typically have regularly scheduled
auctions that are well attended; c) auto auctions typically attract motivated buyers seeking used
vehicles for resale at retail either with or without repair; d) auto auctions usually prequalify bidders
for their ability to complete purchases if a bidder submits the high bid; e) auto auctions have fixed
is"
sale terms well known to qualified bidders; f) a sale at an auto auction is on "as terms and
without any foreseeable risk of future complaints of defects; g) qualified bidders have funds or
lines of credit readily available; h) auto auctions seek to mobilize the market for used vehicles by
publicizing the vehicles available for sale among their pre-qualified bidders; i) auto auctions
typically clean up vehicles before a sale and perform minor repairs to increase the sale price; j)
auto auctions handle transfers of title and related paperwork; and k) auto auctions perform all these
services for less than a bank or finance company would be able to do internally.
2 of 3
FILED: YATES COUNTY CLERK 02/27/2024 02:02 PM INDEX NO. 2024-5047
NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 02/27/2024
.
5. I selected the particular auto auction because it is located in an area and deals in
consumer motor vehicles equivalent to the repossessed vehicle, has satisfied me that it can and
does effectively advertise the vehicles to be sold, and can attract and is attended by ready, willing,
and able buyers interested in buying consumer motor vehicles. In my experience, a vehicle of the
type and condition in question would be of interest to wholesale buyers attending sales at the
auction.
6. The auction sold the Vehicle in the auction's usual course of business. Plaintiff
thereafter notified Defendant of the vehicle's sale and the remaining balance due under the Note.
A copy of that correspondence is annexed to the complaint.
7. Before the vehicle in question was offered for sale I considered the age of the
vehicle, the accumulated mileage on the vehicle, and the condition of the vehicle as reported to
Plaintiff, then used that information and my years of experience with the sums received from sales
at wholesale in private auto auctions to set a minimum price which would be acceptable to Plaintiff
and which would adequately take into account the customer's and Plaintiff's interests.
8. This affidavit is made in support of Plaintiff's complaint in this action.
Dated:
2
-
) , 2024
Ira Steinberg
Signed and sworn this & day ^^^^^-^^^^^^^
of Pelqo 3cq n 2024 ALISSON0 MENDOZA
-
Notary Public State of New York
H0. 01ME6372701
Qualified in Rockland County
My.Commission Expires Mar 26, 2026
3 of 3
Document Filed Date
February 27, 2024
Case Filing Date
February 27, 2024
Category
Other Matters - Consumer Credit (Non-Card) Transaction
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Preview
FILED: YATES COUNTY CLERK 02/27/2024 02:02 PM INDEX NO. 2024-5047 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 02/27/2024 STATE OF NEW YORK SUPREME COURT COUNTY OF YATES .. ... NEW CITY FUNDING CORP. Plaintiff, AFFIDAVIT IN SUPPORT OF -vs- COMPLAINT BRANDON J. THOMPSON Defendant. Index No. STATE OF NEW YORK COUNTY OF ROCKLAND Ira Steinberg , after being duly sworn, deposes and says: 1. I am employed by Plaintiff New City Funding Corp. as its Vice President. I am making this affidavit based on Plaintiff's books and records made, obtained, and retained in the regular course of its business, which it was the regular and ordinary course of its business to make, obtain, and retain, and which records were made by persons with first-hand knowledge at or about the time of the events recorded. I am familiar with Plaintiff's books and records by extensive training at the time I was first employed by Plaintiff as to Plaintiff's business practices, its record keeping systems and practices, Plaintiff's usual business cycle including assessing motor vehicle retail installment contracts for purchase, contract administration after purchasing contracts, and collection activities if a contract goes into default including repossession and sale of consumer motor vehicles and the notices required in connection therewith. Plaintiff has had long established policies and practices that I am charged with supervising and enforcing. I have worked for Plaintiff for { 3 years. 1. Plaintiff is regulated by the NYS Banking Department as a licensed lender under Banking Law sec. 340 et seq. Plaintiff is authorized to make consumer loans of up to $25,000.00 1 of 3 FILED: YATES COUNTY CLERK 02/27/2024 02:02 PM INDEX NO. 2024-5047 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 02/27/2024 . at rates up to 25.00% and to act as a financing entity in respect to the sale of consumer motor vehicles under retail installment contracts pursuant to New York Personal Property Law Article 9. 2. After default and repossession Plaintiff notified Defendant of the repossession, offered Defendant an opportunity to redeem the Vehicle and advised Defendant of the plan to dispose of the vehicle at a private sale if not redeemed. A copy of the Notice sent to Defendant is annexed to the Complaint. 3. Defendant failed to redeem the Vehicle. 4. Plaintiff disposed of the Vehicle by having the Vehicle transported to an auto auction for sale. Plaintiff selected a disposition by a private auction at an auto auction because a) sale at auto auctions is the predominate method of banks, financial companies, and other consumer vehicle lenders to dispose of collateral; b) auto auctions typically have regularly scheduled auctions that are well attended; c) auto auctions typically attract motivated buyers seeking used vehicles for resale at retail either with or without repair; d) auto auctions usually prequalify bidders for their ability to complete purchases if a bidder submits the high bid; e) auto auctions have fixed is" sale terms well known to qualified bidders; f) a sale at an auto auction is on "as terms and without any foreseeable risk of future complaints of defects; g) qualified bidders have funds or lines of credit readily available; h) auto auctions seek to mobilize the market for used vehicles by publicizing the vehicles available for sale among their pre-qualified bidders; i) auto auctions typically clean up vehicles before a sale and perform minor repairs to increase the sale price; j) auto auctions handle transfers of title and related paperwork; and k) auto auctions perform all these services for less than a bank or finance company would be able to do internally. 2 of 3 FILED: YATES COUNTY CLERK 02/27/2024 02:02 PM INDEX NO. 2024-5047 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 02/27/2024 . 5. I selected the particular auto auction because it is located in an area and deals in consumer motor vehicles equivalent to the repossessed vehicle, has satisfied me that it can and does effectively advertise the vehicles to be sold, and can attract and is attended by ready, willing, and able buyers interested in buying consumer motor vehicles. In my experience, a vehicle of the type and condition in question would be of interest to wholesale buyers attending sales at the auction. 6. The auction sold the Vehicle in the auction's usual course of business. Plaintiff thereafter notified Defendant of the vehicle's sale and the remaining balance due under the Note. A copy of that correspondence is annexed to the complaint. 7. Before the vehicle in question was offered for sale I considered the age of the vehicle, the accumulated mileage on the vehicle, and the condition of the vehicle as reported to Plaintiff, then used that information and my years of experience with the sums received from sales at wholesale in private auto auctions to set a minimum price which would be acceptable to Plaintiff and which would adequately take into account the customer's and Plaintiff's interests. 8. This affidavit is made in support of Plaintiff's complaint in this action. Dated: 2 - ) , 2024 Ira Steinberg Signed and sworn this & day ^^^^^-^^^^^^^ of Pelqo 3cq n 2024 ALISSON0 MENDOZA - Notary Public State of New York H0. 01ME6372701 Qualified in Rockland County My.Commission Expires Mar 26, 2026 3 of 3