---
type: "Bill"
title: "Provides for the regulation of federal home equity conversion mortgages"
description: "Provides for the regulation of reverse mortgages that are issued under the federal home equity conversion mortgage program; prohibits the deceptive advertising and issuance of such mortgages; requires that independent counseling be provided to applicants for such mortgages; requires lenders to provide notice of duty of mortgagor to pay certain property related expenses when equity in the real property is low or depleted; prohibits foreclosure on mortgaged property based on the failure of the mortgagor to live on the property, until an inspection has been made at the property; establishes a proved right of action with treble damages for violations of such provisions."
jurisdiction: "us/states/ny"
legislature: "New York Legislature"
session: "2019-2020"
identifier: "A 5626"
citation: "New York A 5626 (2019-2020)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["WEINSTEIN"]
version_count: 1
action_count: 14
vote_count: 2
first_action: "2019-02-14"
last_action: "2019-12-06"
source: "openstates"
source_identifier: "ocd-bill/db7c33e4-9d9e-4b96-9a56-a35929fe3d7a"
source_url: "http://www.nysenate.gov/legislation/bills/2019/A5626"
source_hash: "c7b05e1278678db3831340a517bd984260cf104f9f5ca5f5ff68f5c16af579ea"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ny"]
---

# New York A 5626 (2019-2020) — Provides for the regulation of federal home equity conversion mortgages

Provides for the regulation of reverse mortgages that are issued under the federal home equity conversion mortgage program; prohibits the deceptive advertising and issuance of such mortgages; requires that independent counseling be provided to applicants for such mortgages; requires lenders to provide notice of duty of mortgagor to pay certain property related expenses when equity in the real property is low or depleted; prohibits foreclosure on mortgaged property based on the failure of the mortgagor to live on the property, until an inspection has been made at the property; establishes a proved right of action with treble damages for violations of such provisions.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **A5626** (committee substitute) — [source](http://assembly.state.ny.us/leg/?sh=printbill&bn=A5626&term=2019&Text=Y)

## Votes

- Floor Vote — **59–2** (pass) · upper
- Assembly Vote — **141–0** (pass) · lower

## Sponsors

- WEINSTEIN — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2019-02-14** REFERRED TO JUDICIARY `referral-committee`
- **2019-04-30** REPORTED REFERRED TO CODES `referral-committee`
- **2019-05-07** REPORTED
- **2019-05-09** ADVANCED TO THIRD READING CAL.301
- **2019-05-15** PASSED ASSEMBLY `passage`
- **2019-05-15** DELIVERED TO SENATE
- **2019-05-15** REFERRED TO AGING `referral-committee`
- **2019-05-21** SUBSTITUTED FOR S4407
- **2019-05-21** 3RD READING CAL.741
- **2019-05-21** PASSED SENATE `passage`
- **2019-05-21** RETURNED TO ASSEMBLY
- **2019-11-26** DELIVERED TO GOVERNOR `executive-receipt`
- **2019-12-06** SIGNED CHAP.581 `executive-signature`
- **2019-12-06** APPROVAL MEMO.27

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/db7c33e4-9d9e-4b96-9a56-a35929fe3d7a`. Confidence: reported (aggregated from official New York legislature records).