(a) "Mortgage lending institution" shall mean an insurance company,
banking organization, foreign banking corporation licensed by the
superintendent or the comptroller of the currency, to transact business
in this state, national bank, federal savings bank, federal savings and
loan association, federal credit union, or any bank, trust company,
savings bank, savings and loan association, or credit union organized
under the laws of any other state, or any instrumentality created by the
United States or any other state, with the power to make mortgage loans.
Mortgage lending institution shall include a subsidiary of such entity.
(b) "Mortgage banker" shall mean a person or entity who or which is
licensed pursuant to section five hundred ninety-one of this chapter to
make mortgage loans in this state.
2. Every mortgage lending institution and mortgage banker which
originates loans secured by real property used for residential purposes
located in this state shall provide a separate disclosure form with each
application that shall contain a provision stating whether the interest
rate of such loan shall be the interest rate in effect at the time of
application, the time of commitment, the time of closing or at such
other period of time as shall be determined by the lending institution.
The superintendent of financial services shall promulgate rules and
regulations to implement the provisions of this section.
Structure New York Laws
Article 1 - Short Title; Definitions; Miscellaneous Provisions.
2-A - Limited Liability Investment Company; Definitions.
2-B - Limited Liability Trust Companies; Definitions.
4-C - Exemptions From Certain Provisions of Chapter.
5 - Loans Pursuant to the "Servicemen's Readjustment Act of 1944."
6-C - Application Forms to Be Made Available; Certain Cases.
6-D - Requirement to State in Writing Reason for Denial of Mortgage Loan.
6-E - Graduated Payment Mortgages Authorized.
6-G - Override of Certain Provisions of United States Public Law 97-320.
6-H - Reverse Mortgage Loans Authorized.
6-K - Real Property Insurance Escrow Accounts.
6-N - Responsibility of Banks for Mortgages Being Processed for Modification.
6-O - Single Point of Contact for Modifying Delinquent Home Loans.
6-O*2 - Reverse Cooperative Apartment Unit Loans for Persons Sixty-Two Years of Age or Older.
6-P - Loan Counseling for Mortgages Guaranteed by the Servicemen's Readjustment Act of 1944.
9-B - Actions or Special Proceedings by Superintendent or Attorney-General.
9-C - Superintendent's or Attorney-General's Action for Judicial Dissolution.
9-D - Enforcement of Section Two Hundred Ninety-Six-a of the Executive Law.
9-F - Geographic Discrimination in Making Mortgage Loans Prohibited.
9-H - Imposition of Service Charges Prohibited.
9-I - Close-Out Fees Prohibited in Certain Cases.
9-I*2 - Prohibition on Depositor of Early Withdrawal Penalty in Certain Cases.
9-J - Disposal of Records; Customer Accounts.
9-K - Sale of Education Loans.
9-N - Trust Accounts; Address of Beneficiary.
9-O - Mortgage Loans; Disclosure Form.
9-P - Acceptance of Certain Checks for Deposit.
9-R - Geographic Restrictions.
9-S - Preauthorized Electronic Fund Transfers.
9-T - Unsolicited Mail-Loan Checks.
9-U - Atm Transactions by Persons Using Foreign Bank Accounts.
9-V - Savings Promotion Prize Giveaway.
9-W - Standard Financial Aide Award Letter.
9-X*2 - Fees Based on Inactivity; Notification.
9-Y - Banking Institutions to Pay Checks Drawn Therein in Order of Presentation.