§ 96-A — Servicing of mortgages by banks

New York § 96-A

• Jurisdiction: New York
• Law BNK: Banking
• Art. 3: Banks and Trust Companies

Text

§ 96-a. Servicing of mortgages by banks. 1. Every bank shall, subject\nto the restrictions and limitations contained in this article, have the\npower to service mortgages, and the superintendent shall have the power\nto prescribe, by specific or general regulation, the extent to which,\nand the conditions upon which, mortgages may be serviced.\n 2. No bank shall, by virtue of the provisions contained in this\nsection, be deemed to have the powers defined and described in\nsubdivision two of section one hundred of this article.\n 3. The grant of powers to banks by or pursuant to this section shall\nnot be deemed to limit or restrict any other banking organizations,\nheretofore or hereafter organized, in the exercise of their lawful\npowers.\n