Fabio
72 lines
3.6 KiB
Markdown
72 lines
3.6 KiB
Markdown
---
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type: "Bill"
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title: "Provides for the regulation of federal home equity conversion mortgages"
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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."
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jurisdiction: "us/states/ny"
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legislature: "New York Legislature"
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session: "2019-2020"
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identifier: "A 5626"
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citation: "New York A 5626 (2019-2020)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["WEINSTEIN"]
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version_count: 1
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action_count: 14
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vote_count: 2
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first_action: "2019-02-14"
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last_action: "2019-12-06"
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source: "openstates"
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source_identifier: "ocd-bill/db7c33e4-9d9e-4b96-9a56-a35929fe3d7a"
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source_url: "http://www.nysenate.gov/legislation/bills/2019/A5626"
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source_hash: "c7b05e1278678db3831340a517bd984260cf104f9f5ca5f5ff68f5c16af579ea"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-ny"]
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---
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# New York A 5626 (2019-2020) — Provides for the regulation of federal home equity conversion mortgages
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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.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **A5626** (committee substitute) — [source](http://assembly.state.ny.us/leg/?sh=printbill&bn=A5626&term=2019&Text=Y)
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## Votes
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- Floor Vote — **59–2** (pass) · upper
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- Assembly Vote — **141–0** (pass) · lower
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## Sponsors
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- WEINSTEIN — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2019-02-14** REFERRED TO JUDICIARY `referral-committee`
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- **2019-04-30** REPORTED REFERRED TO CODES `referral-committee`
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- **2019-05-07** REPORTED
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- **2019-05-09** ADVANCED TO THIRD READING CAL.301
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- **2019-05-15** PASSED ASSEMBLY `passage`
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- **2019-05-15** DELIVERED TO SENATE
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- **2019-05-15** REFERRED TO AGING `referral-committee`
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- **2019-05-21** SUBSTITUTED FOR S4407
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- **2019-05-21** 3RD READING CAL.741
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- **2019-05-21** PASSED SENATE `passage`
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- **2019-05-21** RETURNED TO ASSEMBLY
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- **2019-11-26** DELIVERED TO GOVERNOR `executive-receipt`
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- **2019-12-06** SIGNED CHAP.581 `executive-signature`
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- **2019-12-06** APPROVAL MEMO.27
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## Source
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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).
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