NY regulators lay out specifics of homeowner mortgage break

The Department of Financial Services just released the rules of engagement for banks to grant relief to homeowners impacted by the coronavirus. The regulations, promulgated Tuesday afternoon, follow Gov. Andrew Cuomo’s executive order last week telling banks to give homeowners a break. The rules only apply to residential mortgages, not commercial loans or multifamily landlords — a point that was, until now, still somewhat unclear for many. Within 10 business days, according to the regulation,

source https://therealdeal.com/2020/03/24/ny-regulators-lay-out-specifics-of-homeowner-mortgage-break/