NY A05628 | 2019-2020 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 30-0)
Status: Introduced on February 14 2019 - 25% progression, died in committee
Action: 2020-01-14 - reported referred to codes
Pending: Assembly Codes Committee
Text: Latest bill text (Amended) [HTML]
Status: Introduced on February 14 2019 - 25% progression, died in committee
Action: 2020-01-14 - reported referred to codes
Pending: Assembly Codes Committee
Text: Latest bill text (Amended) [HTML]
Summary
Provides for the establishment of the New York state home equity conversion information summary to provide notice of mortgagor's rights and responsibilities under reverse mortgage loans issued under the home equity conversion mortgage program of the federal Department of Housing and Urban Development; provides that every authorized lender must provide copies of such summary not less than 5 days prior to closing on a reverse mortgage loan; establishes a private right of action for violations of such provisions.
Title
Provides for the establishment of the New York state home equity conversion information summary to provide notice of mortgagor's rights and responsibilities under reverse mortgage loans issued under the home equity conversion mortgage program of the federal Department of Housing and Urban Development; provides that every authorized lender must provide copies of such summary not less than 5 days prior to closing on a reverse mortgage loan; establishes a private right of action for violations of such provisions.
Sponsors
Roll Calls
2020-01-14 - Assembly - Assembly Judiciary Committee: Favorable refer to committee Codes (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-14 - Assembly - Assembly Judiciary Committee: Favorable refer to committee Codes (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-14 - Assembly - Assembly Judiciary Committee: Favorable refer to committee Codes (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2020-01-14 | Assembly | reported referred to codes |
2020-01-08 | Assembly | referred to judiciary |
2019-03-28 | Assembly | print number 5628a |
2019-03-28 | Assembly | amend and recommit to judiciary |
2019-02-14 | Assembly | referred to judiciary |
Same As/Similar To
S02373 (Same As) 2020-01-08 - REFERRED TO AGING