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New York policy

A7488: Authorizes the purchase of rehabilitation mortgages by the state of New York mortgage agency

NY Assembly · Sponsor Michael Novakhov

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Jurisdiction
New York State
Applies to
New York State (proposed)
Effective
January 7, 2026

What it requires

Authorizes the state of New York mortgage agency to purchase rehabilitation mortgages from banks within the state during periods when there is an inadequate supply of credit available for new residential mortgages or available for such loans at carrying charges within the financial means of persons and families of low and moderate income.

ny-stateassemblylegislationbill

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