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Agreement for Participation in Single Family Housing - Guaranteed/Insured Loan Programs of the United States Government

Document Title

Agreement for Participation in Single Family Housing - Guaranteed/Insured Loan Programs of the United States Government

Form Name

RD355516.RH

Agency/Statute

New (replaced 198016.RH). (Date of Release to Production: 02/17/22)

New York Alternative Payment Schedule Notice

New York recently passed new legislation to add Section 129-a to New York Banking Law.  Applicable only to New York state chartered banks and trust companies, the new law requires a written notice to be provided to borrowers prior to establishing an alternate payment schedule (NY Banking Law §129-a).  The law does not apply to other New York state chartered financial institutions or to federally chartered institutions.

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