Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 03, 2023 |
signed chap.102 delivered to governor |
Feb 15, 2023 |
returned to senate passed assembly ordered to third reading rules cal.91 substituted for a633 |
Feb 15, 2023 |
substituted by s2229 |
Feb 14, 2023 |
ordered to third reading rules cal.91 rules report cal.91 reported reported referred to rules |
Jan 10, 2023 |
referred to banks |
Assembly Bill A633
Signed By Governor2023-2024 Legislative Session
Sponsored By
STERN
Current Bill Status Via S2229 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
Kimberly Jean-Pierre
David Weprin
2023-A633 (ACTIVE) - Details
- See Senate Version of this Bill:
- S2229
- Law Section:
- Banking Law
- Laws Affected:
- Rpld & add §6-p, Bank L; amd §354-f, Exec L; amd §29-a, Veterans' Services L (as proposed in S.8670-A & A.9493-A)
2023-A633 (ACTIVE) - Summary
Provides that a veteran seeking a housing loan under chapter 37 of title 38 of the United States Code be offered loan counseling services by a counselor certified by the United States department of housing and urban development under Part 214 of Title 24 of the Code of Federal Regulations prior to the processing of such application by a banking institution or mortgage lender and that the department of veterans' services shall promulgate regulations to ensure that no conflicts of interest exist between counselors and mortgage companies.
2023-A633 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 633 2023-2024 Regular Sessions I N A S S E M B L Y January 10, 2023 ___________ Introduced by M. of A. STERN -- read once and referred to the Committee on Banks AN ACT to amend the banking law, the executive law and the veterans' services law, in relation to certain notices and services upon appli- cation for a mortgage guaranteed under the "Servicemen's Readjustment Act of 1944"; and providing for the repeal of certain provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 6-p of the banking law, as added by a chapter of the laws of 2022 amending the banking law, the executive law and the veterans' services law relating to certain notices and services upon application for a mortgage guaranteed under the "Servicemen's Readjust- ment Act of 1944", as proposed in legislative bills numbers S. 8670-A and A. 9493-A, is REPEALED and a new section 6-p is added to read as follows: § 6-P. LOAN COUNSELING FOR MORTGAGES GUARANTEED BY THE SERVICEMEN'S READJUSTMENT ACT OF 1944. EVERY MORTGAGE LENDING INSTITUTION AND MORT- GAGE BANKER WHICH ORIGINATES LOANS SECURED BY REAL PROPERTY USED FOR RESIDENTIAL PURPOSES LOCATED IN THIS STATE WHICH ARE TO BE GUARANTEED UNDER THE SERVICEMEN'S READJUSTMENT ACT OF 1944 SHALL PROVIDE A SEPARATE DISCLOSURE FORM WITH EACH APPLICATION STATING THAT A VETERAN SEEKING A HOUSING LOAN UNDER CHAPTER 37 OF TITLE 38 OF THE UNITED STATES CODE HAS BEEN OFFERED LOAN COUNSELING SERVICES. SUCH LOAN COUNSELING SERVICES SHALL BE PROVIDED BY THE DEPARTMENT OF VETERANS' SERVICES UNDER SECTION TWENTY-NINE-A OF THE VETERANS' SERVICES LAW UPON REQUEST OF AN APPLI- CANT. THE DISCLOSURE FORM REQUIRED BY THIS SECTION SHALL BE SIGNED BY EACH APPLICANT AND SHALL INCLUDE INFORMATION DETAILING HOW TO ACCESS SUCH COUNSELING SERVICES. § 2. Section 354-f of the executive law, as added by a chapter of the laws of 2022 amending the banking law, the executive law and the veter- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04151-01-3
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