|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| 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 - On Floor Calendar
- 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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