Establishes a private right of action for deed theft

The term 'Bank' was replaced with 'Lender' to broaden the definition to include any entity providing a loan that encumbers property, rather than just those providing loans for real property.

A new definition for 'Covered property' was added, explicitly limiting the law's protection to residential real estate such as one-to-six family dwellings, condominiums, and cooperative apartments.

A new exemption was created for 'high-value experienced commercial transactions' (over $6 million involving licensed professionals), removing the right of action for deed theft in these specific cases.

The definition of 'Deed theft' was updated to focus on acts involving 'covered property' and to include 'unfair, deceptive or abusive acts or practices' alongside traditional fraud.