NY S04408 | 2019-2020 | General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 5-0)
Status: Passed on December 15 2020 - 100% progression
Action: 2020-12-15 - APPROVAL MEMO.43
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 5-0)
Status: Passed on December 15 2020 - 100% progression
Action: 2020-12-15 - APPROVAL MEMO.43
Text: Latest bill text (Introduced) [HTML]
Summary
Requires an authorized lender which seeks to foreclose upon a reverse mortgage issued under the federal home equity conversion mortgage program to provide notice thereof to the department of financial services and to the mortgagor; directs such department to provide notice to the mortgagor of legal service organizations which may assist them with the default or foreclosure; prohibits authorized lenders from making advance payment of debts upon the mortgaged real property.
Title
Requires an authorized lender which seeks to foreclose upon a reverse mortgage issued under the federal home equity conversion mortgage program to provide notice thereof to the department of financial services and to the mortgagor; directs such department to provide notice to the mortgagor of legal service organizations which may assist them with the default or foreclosure; prohibits authorized lenders from making advance payment of debts upon the mortgaged real property.
Sponsors
| Sen. Andrew Gounardes [D] | Sen. Joseph Addabbo [D] | Sen. David Carlucci [D] | Sen. Rachel May [D] |
| Sen. Kevin Parker [D] |
Roll Calls
2020-07-22 - Assembly - Assembly Floor Vote - Final Passage (Y: 100 N: 42 NV: 0 Abs: 3) [PASS]
2020-01-29 - Senate - Senate Floor Vote - Final Passage (Y: 56 N: 2 NV: 0 Abs: 4) [PASS]
2020-01-22 - Senate - Senate Aging Committee Vote (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2019-05-21 - Senate - Senate Floor Vote - Final Passage (Y: 58 N: 3 NV: 0 Abs: 1) [PASS]
2019-05-14 - Senate - Senate Aging Committee Vote (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-29 - Senate - Senate Floor Vote - Final Passage (Y: 56 N: 2 NV: 0 Abs: 4) [PASS]
2020-01-22 - Senate - Senate Aging Committee Vote (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2019-05-21 - Senate - Senate Floor Vote - Final Passage (Y: 58 N: 3 NV: 0 Abs: 1) [PASS]
2019-05-14 - Senate - Senate Aging Committee Vote (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2020-12-15 | Assembly | APPROVAL MEMO.43 |
| 2020-12-15 | Assembly | SIGNED CHAP.337 |
| 2020-12-03 | Senate | DELIVERED TO GOVERNOR |
| 2020-07-22 | Assembly | returned to senate |
| 2020-07-22 | Assembly | passed assembly |
| 2020-07-21 | Assembly | ordered to third reading rules cal.230 |
| 2020-07-21 | Assembly | substituted for a5627 |
| 2020-01-29 | Assembly | referred to judiciary |
| 2020-01-29 | Senate | DELIVERED TO ASSEMBLY |
| 2020-01-29 | Senate | PASSED SENATE |
| 2020-01-27 | Senate | ADVANCED TO THIRD READING |
| 2020-01-23 | Senate | 2ND REPORT CAL. |
| 2020-01-22 | Senate | 1ST REPORT CAL.225 |
| 2020-01-08 | Senate | REFERRED TO AGING |
| 2020-01-08 | Assembly | returned to senate |
| 2020-01-08 | Assembly | died in assembly |
| 2019-05-21 | Assembly | referred to judiciary |
| 2019-05-21 | Senate | DELIVERED TO ASSEMBLY |
| 2019-05-21 | Senate | PASSED SENATE |
| 2019-05-20 | Senate | ADVANCED TO THIRD READING |
| 2019-05-15 | Senate | 2ND REPORT CAL. |
| 2019-05-14 | Senate | 1ST REPORT CAL.742 |
| 2019-03-11 | Senate | REFERRED TO AGING |
Same As/Similar To
A05627 (Same As) 2020-12-15 - APPROVAL MEMO.43
