NYDFS issues industry letter on reverse mortgage lending

May 25, 2022

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Buckley Infobytes Blog

The New York Department of Financial Services (NYDFS) issued an industry letter on May 17, reminding all institutions engaged in reverse mortgage lending in the state that existing regulatory framework for reverse mortgages will also apply to cooperative apartment loans made after Section 6-O*2 of the New York Banking Law takes effect on May 30.

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