Lenders Seek Passage of Less Stringent NY Senate Measure
July 8, 2002
Mortgage lenders and secondary market participants have intensified lobbying efforts for a less stringent assignee liability bill, in the wake of the New York State Assembly’s approval last month of high-cost loan legislation that could be lethal to the industry. Lenders and Wall Street are pinning their hopes on the New York State Senate to take up its version of the bill, which also provides for assignee liability but without the onerous penalties in