Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 25, 2022 |
returned to assembly passed senate 3rd reading cal.1451 substituted for s8670a |
May 16, 2022 |
referred to finance delivered to senate passed assembly ordered to third reading rules cal.231 rules report cal.231 reported |
May 10, 2022 |
reported referred to rules |
May 06, 2022 |
print number 9493a |
May 06, 2022 |
amend (t) and recommit to banks |
Mar 07, 2022 |
referred to banks |
Assembly Bill A9493A
2021-2022 Legislative Session
Sponsored By
STERN
Archive: Last Bill Status - Passed Senate & Assembly
- 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
co-Sponsors
Fred Thiele
Steven Englebright
Philip Ramos
Monica P. Wallace
2021-A9493 - Details
- See Senate Version of this Bill:
- S8670
- Law Section:
- Banking Law
- Laws Affected:
- Add §6-p, Bank L; add §354-f, Exec L; add §29-a, Veterans' Services L
2021-A9493 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9493 I N A S S E M B L Y March 7, 2022 ___________ Introduced by M. of A. STERN -- read once and referred to the Committee on Banks AN ACT to amend the banking law and the executive law, in relation to certain notices and services upon application for a mortgage guaran- teed under the "Servicemen's Readjustment Act of 1944" 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 6-p 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 DIVISION OF VETERANS' SERVICES UNDER SECTION THREE HUNDRED FIFTY-FOUR-F OF THE EXECUTIVE LAW UPON REQUEST OF AN APPLICANT. 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. The executive law is amended by adding a new section 354-f to read as follows: § 354-F. LOAN COUNSELING FOR MORTGAGES GUARANTEED BY THE SERVICEMEN'S READJUSTMENT ACT OF 1944. UPON THE REQUEST OF ANY VETERAN, THE DIVISION SHALL PROVIDE COUNSELING AND ASSISTANCE TO APPLICANTS FOR A MORTGAGE LOAN GUARANTEED BY THE SERVICEMEN'S READJUSTMENT ACT OF 1944. SUCH SERVICE SHALL BE PROVIDED EITHER DIRECTLY OR THROUGH A CONTRACT WITH A NOT-FOR-PROFIT ENTITY WHICH HAS A COMMERCIAL AND GOVERNMENT ENTITY (CAGE) CODE ASSIGNED BY THE FEDERAL SYSTEM FOR AWARD MANAGEMENT AND WHICH IS NOT OWNED BY, AFFILIATED WITH OR OPERATED BY A MORTGAGE COMPA- NY. COUNSELORS SHALL BE LICENSED IN THIS STATE AS EITHER A REAL ESTATE BROKER OR A MORTGAGE BROKER. LOAN COUNSELING AND ASSISTANCE SHALL EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
Fred Thiele
Steven Englebright
Philip Ramos
Monica P. Wallace
2021-A9493A (ACTIVE) - Details
- See Senate Version of this Bill:
- S8670
- Law Section:
- Banking Law
- Laws Affected:
- Add §6-p, Bank L; add §354-f, Exec L; add §29-a, Veterans' Services L
2021-A9493A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9493--A I N A S S E M B L Y March 7, 2022 ___________ Introduced by M. of A. STERN, THIELE, ENGLEBRIGHT, RAMOS, WALLACE, J. A. GIGLIO, GANDOLFO, McDONOUGH, SOLAGES, GRIFFIN, SILLITTI, LAVINE, BURDICK, MORINELLO, JONES, HEVESI -- read once and referred to the Committee on Banks -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law and the executive law, in relation to certain notices and services upon application for a mortgage guaran- teed 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. The banking law is amended by adding a new section 6-p 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 DIVISION OF VETERANS' SERVICES UNDER SECTION THREE HUNDRED FIFTY-FOUR-F OF THE EXECUTIVE LAW UPON REQUEST OF AN APPLICANT. 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. The executive law is amended by adding a new section 354-f to read as follows: § 354-F. LOAN COUNSELING FOR MORTGAGES GUARANTEED BY THE SERVICEMEN'S READJUSTMENT ACT OF 1944. UPON THE REQUEST OF ANY VETERAN, THE DIVISION SHALL PROVIDE COUNSELING AND ASSISTANCE TO APPLICANTS FOR A MORTGAGE LOAN GUARANTEED BY THE SERVICEMEN'S READJUSTMENT ACT OF 1944. SUCH SERVICE SHALL BE PROVIDED EITHER DIRECTLY OR THROUGH A CONTRACT WITH A NOT-FOR-PROFIT ENTITY WHICH HAS A COMMERCIAL AND GOVERNMENT ENTITY EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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