Supplemental report on the Home Mortgage Bridge Loan Assistance Act (HMBLAA) providing additional detail concerning the eligibility of banks for contributions to HMBLAA as “qualified investments” under the Community Reinvestment Act, and the New York Community Reinvestment Act

BILL INFORMATION

S.5035-A (Sen. Peralta) – Enacts the “Home Mortgage Bridge Loan Assistance Act of 2014”; establishes a program to prevent avoidable home mortgage foreclosures by providing temporary bridge loan assistance in making supplemental home mortgage loan payments on behalf of homeowners experiencing temporary financial difficulty, through no fault of their own, that materially affects their ability to make such payments (NYS 2013-14)