New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 41 - Restrictions And Limitations On High Cost Home Loans
Section 41.11 - Single premium insurance; debt cancellation and suspension agreement payments
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 41.11
Current through Register Vol. 46, No. 12, March 20, 2024
No lender or affiliate shall finance single premium credit life, accident, health, disability, or loss of income insurance, or any other life or health insurance premiums, in connection with a high cost home loan subject to this Part, or any payments directly or indirectly for any debt cancellation or suspension agreement or contract, except that such insurance premiums or payments calculated and paid on a monthly basis shall not be considered so financed.
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