New York § 6-N Responsibility of banks for mortgages being processed for modification

New York Statutes

§ 6-N — Responsibility of banks for mortgages being processed for modification

New York § 6-N

Law BNKBanking

Art. 1Short Title; Definitions; Miscellaneous Provisions

This text of New York § 6-N (Responsibility of banks for mortgages being processed for modification) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Banking § 6-N (2026).

Text

§ 6-n. Responsibility of banks for mortgages being processed for\nmodification.

1.If a mortgage that is the subject of an application for\na modification of the mortgage terms is sold or transferred during the\nmodification process, the bank or financial institution selling or\ntransferring such mortgage shall provide the borrower with a written\nlist of all documents relating to such application for modification that\nwere provided to the bank or financial institution to which such\nmortgage was sold or transferred.\n 2. If a borrower has been approved in writing for a first lien loan\nmodification or other modification to avoid foreclosure, and the\nservicing of such borrower's loan is transferred or sold to another\nmortgage servicer, the subsequent mortgage servicer shall assume al

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§ 6-n. Responsibility of banks for mortgages being processed for\nmodification. 1. If a mortgage that is the subject of an application for\na modification of the mortgage terms is sold or transferred during the\nmodification process, the bank or financial institution selling or\ntransferring such mortgage shall provide the borrower with a written\nlist of all documents relating to such application for modification that\nwere provided to the bank or financial institution to which such\nmortgage was sold or transferred.\n 2. If a borrower has been approved in writing for a first lien loan\nmodification or other modification to avoid foreclosure, and the\nservicing of such borrower's loan is transferred or sold to another\nmortgage servicer, the subsequent mortgage servicer shall assume all\nduties and obligations related to any previously approved first lien\nloan modification or other foreclosure prevention alternative in\naccordance with the provisions of this section.\n