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This entry was published on 2014-09-22
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SECTION 96-A
Servicing of mortgages by banks
Banking (BNK) CHAPTER 2, ARTICLE 3
§ 96-a. Servicing of mortgages by banks. 1. Every bank shall, subject
to the restrictions and limitations contained in this article, have the
power to service mortgages, and the superintendent shall have the power
to prescribe, by specific or general regulation, the extent to which,
and the conditions upon which, mortgages may be serviced.

2. No bank shall, by virtue of the provisions contained in this
section, be deemed to have the powers defined and described in
subdivision two of section one hundred of this article.

3. The grant of powers to banks by or pursuant to this section shall
not be deemed to limit or restrict any other banking organizations,
heretofore or hereafter organized, in the exercise of their lawful
powers.