Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 30, 2024 |
returned to assembly passed senate 3rd reading cal.125 substituted for s5597b |
May 30, 2024 |
substituted by a9686 |
Mar 21, 2024 |
amended on third reading 5597b |
Jan 22, 2024 |
advanced to third reading |
Jan 17, 2024 |
2nd report cal. |
Jan 16, 2024 |
1st report cal.125 |
Jan 10, 2024 |
print number 5597a |
Jan 10, 2024 |
amend (t) and recommit to banks |
Jan 03, 2024 |
referred to banks returned to senate died in assembly |
May 31, 2023 |
referred to banks delivered to assembly passed senate |
May 01, 2023 |
advanced to third reading |
Apr 26, 2023 |
2nd report cal. |
Apr 25, 2023 |
1st report cal.665 |
Mar 08, 2023 |
referred to banks |
Senate Bill S5597B
2023-2024 Legislative Session
Sponsored By
(D) 14th Senate District
Current Bill Status Via A9686 - Passed Senate
- 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
Bill Amendments
2023-S5597 - Details
2023-S5597 - Sponsor Memo
BILL NUMBER: S5597 SPONSOR: COMRIE TITLE OF BILL: An act to amend the banking law, in relation to what mortgage appli- cant's need to know pamphlet on residential mortgages PURPOSE OR GENERAL IDEA OF BILL: This bill would require the creation and publication of the "what mort- gage applicants need to know" pamphlet. The pamphlet shall be provided to consumers by mortgage lenders and bankers, and shall be published in the six most spoken languages in New York State. SUMMARY OF SPECIFIC PROVISIONS: Section 1. Adding a new section 35 to the banking law. The superinten- dent of the Department of Financial Services shall develop a pamphlet known as "what mortgage applicants need to know " and post such pamphlet on the department's website. Such pamphlet shall be posted and printed in the six languages which are most spoken in New York State.
2023-S5597 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5597 2023-2024 Regular Sessions I N S E N A T E March 8, 2023 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the banking law, in relation to what mortgage appli- cant's need to know pamphlet on residential mortgages THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 35 to read as follows: § 35. INFORMATION PAMPHLET FOR RESIDENTIAL MORTGAGE APPLICANTS. 1. THE SUPERINTENDENT SHALL DEVELOP A PAMPHLET KNOWN AS "WHAT MORTGAGE APPLICANT'S NEED TO KNOW" AND POST SUCH PAMPHLET ON THE DEPARTMENT'S WEB SITE. SUCH PAMPHLET SHALL BE POSTED AND PRINTED IN THE SIX MOST COMMON NON-ENGLISH LANGUAGES SPOKEN BY INDIVIDUALS WITH LIMITED-ENGLISH PROFI- CIENCY IN NEW YORK STATE AS BASED ON THE MOST RECENT CENSUS. COPIES OF SUCH PAMPHLET SHALL BE PROVIDED TO ALL LICENSED LENDERS AND BANKING ORGANIZATIONS OFFERING RESIDENTIAL MORTGAGE SERVICES. A COPY OF SUCH PAMPHLET SHALL BE PROVIDED BY LICENSED LENDERS, MORTGAGE BANKERS AND OTHER BANKING ORGANIZATIONS TO EACH PERSON BEFORE SUCH PERSON ENTERS INTO AN APPLICATION FOR A LOAN SECURED BY A MORTGAGE UPON RESIDENTIAL REAL ESTATE. SHOULD SUCH APPLICANT APPLY FOR A MORTGAGE ONLINE, THE LICENSED LENDER, MORTGAGE BANKER OR OTHER BANKING ORGANIZATION SHALL PROVIDE THE APPLICANT WITH THE PAMPHLET VIA ELECTRONIC COMMUNICATIONS, INCLUDING BUT NOT LIMITED TO, ELECTRONIC MAIL OR A HYPERLINK TO THE PAMPHLET POSTED ON THE DEPARTMENT'S WEB SITE. 2. THE PAMPHLET AND WEB SITE NOTICE DEVELOPED PURSUANT TO THIS SECTION SHALL INCLUDE THE FOLLOWING, ALONG WITH OTHER INFORMATION ADDED AT THE DISCRETION OF THE SUPERINTENDENT NOT OTHERWISE INCONSISTENT WITH THE INFORMATION SET FORTH IN THE PAMPHLET: "WHAT MORTGAGE APPLICANTS NEED TO KNOW AS AN APPLICANT FOR A RESIDENTIAL MORTGAGE YOU HAVE THE RIGHT TO: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04048-01-3 S. 5597 2
co-Sponsors
(D, WF) 31st Senate District
2023-S5597A - Details
2023-S5597A - Sponsor Memo
BILL NUMBER: S5597A SPONSOR: COMRIE TITLE OF BILL: An act to amend the banking law, in relation to what mortgage applicants need to know pamphlet on residential mortgages PURPOSE OR GENERAL IDEA OF BILL: This bill would require the creation and publication of the "what mort- gage applicants need to know" pamphlet. The pamphlet shall be provided to consumers by mortgage lenders and bankers, and shall be published in the six most spoken languages in New York State. SUMMARY OF SPECIFIC PROVISIONS: Section 1. Adding a new section 35 to the banking law. The superinten- dent of the Department of Financial Services shall develop a pamphlet known as "what mortgage applicants need to know " and post such pamphlet on the department's website. Such pamphlet shall be posted and printed in the six languages which are most spoken in New York State.
2023-S5597A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5597--A 2023-2024 Regular Sessions I N S E N A T E March 8, 2023 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- recommitted to the Committee on Banks in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law, in relation to what mortgage applicants need to know pamphlet on residential mortgages THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 35 to read as follows: § 35. INFORMATION PAMPHLET FOR RESIDENTIAL MORTGAGE APPLICANTS. 1. THE SUPERINTENDENT SHALL DEVELOP A PAMPHLET KNOWN AS "WHAT MORTGAGE APPLICANTS NEED TO KNOW" AND POST SUCH PAMPHLET ON THE DEPARTMENT'S WEB SITE. SUCH PAMPHLET SHALL BE POSTED AND PRINTED IN THE SIX MOST COMMON NON-ENGLISH LANGUAGES SPOKEN BY INDIVIDUALS WITH LIMITED-ENGLISH PROFI- CIENCY IN NEW YORK STATE AS BASED ON THE MOST RECENT CENSUS. COPIES OF SUCH PAMPHLET SHALL BE PROVIDED TO ALL LICENSED LENDERS AND BANKING ORGANIZATIONS OFFERING RESIDENTIAL MORTGAGE SERVICES. A COPY OF SUCH PAMPHLET SHALL BE PROVIDED BY LICENSED LENDERS, MORTGAGE BANKERS AND OTHER BANKING ORGANIZATIONS TO EACH PERSON BEFORE SUCH PERSON ENTERS INTO AN APPLICATION FOR A LOAN SECURED BY A MORTGAGE UPON RESIDENTIAL REAL ESTATE. SHOULD SUCH APPLICANT APPLY FOR A MORTGAGE ONLINE, THE LICENSED LENDER, MORTGAGE BANKER OR OTHER BANKING ORGANIZATION SHALL PROVIDE THE APPLICANT WITH THE PAMPHLET VIA ELECTRONIC COMMUNICATIONS, INCLUDING BUT NOT LIMITED TO, ELECTRONIC MAIL OR A HYPERLINK TO THE PAMPHLET POSTED ON THE DEPARTMENT'S WEB SITE. 2. THE PAMPHLET AND WEB SITE NOTICE DEVELOPED PURSUANT TO THIS SECTION SHALL INCLUDE THE FOLLOWING, ALONG WITH OTHER INFORMATION ADDED AT THE DISCRETION OF THE SUPERINTENDENT NOT OTHERWISE INCONSISTENT WITH THE INFORMATION SET FORTH IN THE PAMPHLET: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04048-02-4
co-Sponsors
(D, WF) 31st Senate District
2023-S5597B (ACTIVE) - Details
2023-S5597B (ACTIVE) - Summary
Requires the development of a "what mortgage applicants need to know" pamphlet on residential mortgages; provides such pamphlet shall be posted and printed in the 6 most common non-English languages spoken by individuals with limited English proficiency in New York state.
2023-S5597B (ACTIVE) - Sponsor Memo
BILL NUMBER: S5597B SPONSOR: COMRIE TITLE OF BILL: An act to amend the banking law, in relation to what mortgage applicants need to know pamphlet on residential mortgages PURPOSE OR GENERAL IDEA OF BILL: This bill would require the creation and publication of the "what mort- gage applicants need to know" pamphlet. The pamphlet shall be provided to consumers by mortgage lenders and bankers, and shall be published in the six most spoken languages in New York State. SUMMARY OF SPECIFIC PROVISIONS: Section 1. Adding a new section 35 to the banking law. The superinten- dent of the Department of Financial Services shall develop a pamphlet known as "what mortgage applicants need to know " and post such pamphlet on the department's website. Such pamphlet shall be posted and printed in the six languages which are most spoken in New York State.
2023-S5597B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5597--B Cal. No. 125 2023-2024 Regular Sessions I N S E N A T E March 8, 2023 ___________ Introduced by Sens. COMRIE, JACKSON -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- recom- mitted to the Committee on Banks in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the banking law, in relation to what mortgage applicants need to know pamphlet on residential mortgages THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 35 to read as follows: § 35. INFORMATION PAMPHLET FOR RESIDENTIAL MORTGAGE APPLICANTS. 1. THE SUPERINTENDENT SHALL DEVELOP A PAMPHLET KNOWN AS "WHAT MORTGAGE APPLICANTS NEED TO KNOW" AND POST SUCH PAMPHLET ON THE DEPARTMENT'S WEB SITE. SUCH PAMPHLET SHALL BE POSTED AND PRINTED IN THE SIX MOST COMMON NON-ENGLISH LANGUAGES SPOKEN BY INDIVIDUALS WITH LIMITED-ENGLISH PROFI- CIENCY IN NEW YORK STATE AS BASED ON THE MOST RECENT CENSUS. COPIES OF SUCH PAMPHLET SHALL BE PROVIDED TO ALL LICENSED LENDERS AND BANKING ORGANIZATIONS OFFERING RESIDENTIAL MORTGAGE SERVICES. A COPY OF SUCH PAMPHLET SHALL BE PROVIDED BY LICENSED LENDERS, MORTGAGE BANKERS AND OTHER BANKING ORGANIZATIONS TO EACH PERSON APPLYING FOR A LOAN SECURED BY A MORTGAGE UPON RESIDENTIAL REAL ESTATE IN ACCORDANCE WITH THE TIMING REQUIREMENTS UNDER 12 CFR § 1026.19(E)(1)(III). A LICENSED LEND- ER, MORTGAGE BANKER OR OTHER BANKING ORGANIZATION MAY PROVIDE THE APPLI- CANT WITH THE PAMPHLET VIA ELECTRONIC COMMUNICATIONS, INCLUDING BUT NOT LIMITED TO, ELECTRONIC MAIL OR A HYPERLINK TO THE PAMPHLET POSTED ON THE DEPARTMENT'S WEB SITE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04048-05-4
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