Cuomo’s executive order tells banks to give homeowners a break

Gov. Andrew Cuomo issued an executive order Saturday urging banks to postpone mortgage payments for 90 days for homeowners in financial distress because of the coronavirus pandemic. The order states that “it shall be deemed an unsafe and unsound business practice” if state-regulated banks do not offer strapped borrowers forbearance on mortgages for 90 days. It demands the superintendent of the Department of Financial services write “emergency regulations” to ensure banks make the applications to

source https://therealdeal.com/2020/03/21/cuomos-executive-order-tells-banks-to-give-homeowners-a-break/