Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to banks |
May 19, 2009 |
reported and committed to finance |
May 06, 2009 |
reported and committed to codes |
Mar 25, 2009 |
print number 2367b |
Mar 25, 2009 |
amend and recommit to banks |
Mar 16, 2009 |
print number 2367a |
Mar 16, 2009 |
amend and recommit to banks |
Feb 19, 2009 |
referred to banks |
Senate Bill S2367
2009-2010 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Banks Committee
- 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
Bill Amendments
2009-S2367 - Details
- Current Committee:
- Senate Banks
2009-S2367 - Sponsor Memo
BILL NUMBER: S2367 TITLE OF BILL : An act to amend the banking law, in relation to directing licensed mortgage bankers and authorized mortgage loan originators to provide mortgage applicants with a mortgage bill of rights pamphlet on residential mortgages PURPOSE : Requires mortgage lenders and brokers to provide the consumer with a Mortgage Bill of Rights brochure which must be signed by the consumer prior to mortgage application. SUMMARY OF PROVISIONS : The superintendent shall develop, print and distribute, in sufficient numbers, to every licensed mortgage banker, authorized mortgage banker and authorized loan originator, a mortgage bill of rights brochure for residential mortgage applicants. A copy of such brochure shall be given to each person inquiring about a mortgage loan. Furthermore, no licensed mortgage banker or authorized mortgage loan originator shall accept an application for a residential mortgage until applicant has signed a statement that he/she has read and understands the Mortgage Bill of Rights brochure. This statement shall be kept on file for no less than 5 years.
2009-S2367A - Details
- Current Committee:
- Senate Banks
2009-S2367A - Sponsor Memo
BILL NUMBER: S2367A TITLE OF BILL : An act to amend the banking law, in relation to directing licensed mortgage bankers and authorized mortgage loan originators to provide mortgage applicants with a mortgage bill of rights pamphlet on residential mortgages PURPOSE : Requires mortgage lenders and brokers to provide the consumer with a Mortgage Bill of Rights brochure which must be signed by the consumer prior to mortgage application. SUMMARY OF PROVISIONS : The superintendent shall develop, print and distribute, in sufficient numbers, to every licensed mortgage banker, authorized mortgage banker and authorized loan originator, a Mortgage Bill of Rights brochure for residential mortgage applicants. A copy of such brochure shall be given to each person inquiring about a mortgage loan. Furthermore, no licensed mortgage banker or authorized mortgage loan originator shall accept an application for a residential mortgage until applicant has signed a statement that he/she has read and understands the Mortgage Bill of Rights brochure. This statement shall be kept on tile for no less than 5 years.
co-Sponsors
(D, WF) Senate District
(D) Senate District
(D) Senate District
(D, WF) Senate District
2009-S2367B (ACTIVE) - Details
- Current Committee:
- Senate Banks
2009-S2367B (ACTIVE) - Sponsor Memo
BILL NUMBER: S2367B TITLE OF BILL : An act to amend the banking law, in relation to directing licensed mortgage bankers and authorized mortgage loan originators to provide mortgage applicants with a mortgage bill of rights pamphlet on residential mortgages PURPOSE : Requires mortgage lenders and brokers to provide the consumer with a Mortgage Bill of Rights brochure which must be signed by the consumer prior to mortgage application. SUMMARY OF PROVISIONS : The superintendent shall develop, print and distribute, in sufficient numbers, to every licensed mortgage banker, authorized mortgage banker and authorized loan originator, a Mortgage Bill of Rights brochure for residential mortgage applicants. A copy of such brochure shall be given to each person inquiring about a mortgage loan. Furthermore, no licensed mortgage banker or authorized mortgage loan originator shall accept an application for a residential mortgage until applicant has signed a statement that he/she has read and understands the Mortgage Bill of Rights brochure. This statement shall be kept on tile for no less than 5 years.
2009-S2367B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2367--B 2009-2010 Regular Sessions I N S E N A T E February 19, 2009 ___________ Introduced by Sens. MONSERRATE, HASSELL-THOMPSON, KLEIN, ONORATO, OPPEN- HEIMER, THOMPSON -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law, in relation to directing licensed mort- gage bankers and authorized mortgage loan originators to provide mort- gage applicants with a mortgage bill of rights 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: S 35. INFORMATION PAMPHLET FOR RESIDENTIAL MORTGAGE APPLICANTS. 1. THE SUPERINTENDENT OF BANKS SHALL DEVELOP A PAMPHLET KNOWN AS "THE MORT- GAGE APPLICANT'S BILL OF RIGHTS" AND POST SUCH PAMPHLET ON THE BANKING DEPARTMENT'S WEBSITE. 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 AND BANKING ORGANIZATIONS TO EACH PERSON BEFORE SUCH PERSON ENTERS INTO AN APPLICATION FOR A LOAN SECURED BY A MORTGAGE UPON RESIDENTIAL REAL ESTATE. FURTHERMORE, SUCH LICENSED LENDER AND BANKING ORGANIZATION SHALL NOT ACCEPT AN APPLICATION FOR A RESIDENTIAL MORTGAGE UNTIL THE PERSON OR PERSONS APPLYING FOR A MORTGAGE HAVE BEEN PROVIDED A COPY OF THE BOOKLET AND ACKNOWLEDGED RECEIPT OF IT IN WRITING. EVERY LICENSED LENDER AND BANKING ORGANIZATION SHALL MAINTAIN SUCH ACKNOWLEDGEMENT ALONG WITH THE APPLICANT'S MORTGAGE LOAN DOCUMENTS. 2. THE PAMPHLET AND WEBSITE NOTICE DEVELOPED PURSUANT TO THIS SECTION SHALL INCLUDE THE FOLLOWING, ALONG WITH OTHER INFORMATION ADDED AT THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00046-07-9
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.