Bill Title: Authorizes the state of New York mortgage agency (SONYMA) to originate mortgages constituting a second lien and defines mortgage as a loan owed to a bank or to the agency secured by a second lien on a fee simple or leasehold estate in real property located in the state and improved by a residential structure whether or not insured by the US or any agency thereof; authorizes such agency to purchase rehabilitation mortgages from banks within the state.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-01-04 - referred to housing [A02632 Detail]

Text: Latest bill text (Introduced) [HTML]

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