N.Y. Comp. Codes R. & Regs. Tit. 3 § 4.2 - Amounts included as interest
The term interest as used in section 4.1 of this Part:
(a) when applied to any loan or
forbearance secured primarily by an interest in real property improved by a
one- or two-family residence occupied by the owner, shall include origination
fees, points and other discounts and all other amounts paid or payable,
directly or indirectly, by any person, to or for the account of the lender in
consideration for making the loan or forbearance. The fees, charges and costs
described in section
4.3
of this Part do not constitute amounts paid or payable, directly or indirectly,
to or for the account of the lender in consideration for making the loan or
forbearance and are not included in "interest";
(b) when applied to any other loan or
forbearance, shall mean all amounts paid or payable, directly or indirectly, by
any person, to or for the account of the lender which would be includible as
interest under New York law as it existed prior to the enactment of chapter 349
of the Laws of 1968;
(c) when
applied to any loan or forbearance insured by the New York City Rehabilitation
Mortgage Insurance Corporation, shall not include premiums paid for insurance
pursuant to section
654(13)(a) of the Private
Housing Finance Law.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.