I am with a federal savings bank based in NJ. Some of our employees live in Rockland and Orange Counties in NY. If we want to originate mortgage or home equity loans for our employees only, what NY laws or NY regulations, if any, do we need to be aware of? I saw a post from earlier this year that indicates that the lender is responsible for a 1/4% recording tax. Any help you can give would be greatly appreciated. Thank you.

If you would like to provide me with your email address I can provide a New York State Banking Department document which details all of the various State rules, regulations and laws that apply to the origination of mortgages and loans......

Could I get a copy of this document emailed to me at jbyrne@encorecredit.com? Thank you...Joe

Many of the mortgage rules and regualtions are available on the NYS Banking Department website http://www.banking.state.ny.us/mbreg.htm

Would you please e-mail me the same document?
retaillend@newmilbank.com
Thank you

If it is not too late (as the original posting was in 2003!) would you please email me a copy of this document. We recently changed charters and I can use all the help I can get!

vfavaro@adirondackbank.com

May I please have a copy of the New York State Banking rules regarding Home Equity Line of Credit disclosures?

If you go to the NYS Banking Department website, most of the real estate lending regulations are listed. Part 38 outlines the basic mortgage loan regulations, Part 80 has the basic HELOC regulations (Parts of Part 38 also apply to HELOC's). Here's the link: http://www.banking.state.ny.us/mbreg.htm