N.Y. Comp. Codes R. & Regs. Tit. 3 § 80.9 - Prohibited clauses

A contract, note or instrument evidencing or securing a junior mortgage loan shall not contain:

(a) any acceleration clause providing that the junior mortgage loan may be declared due and payable upon the mere condition that the lender deems itself insecure with respect to the unpaid balance of such junior mortgage loan;
(b) any power of attorney to confess judgment or any other power of attorney;
(c) any provision whereby the borrower waives any rights accruing to him under the provisions of this Part;
(d) any assignment of or order for the payment of any salary, wages, commissions or other compensation for services, or any part thereof, earned or to be earned; or
(e) any provision prohibiting prepayment of the junior mortgage loan in whole or in part or imposing a penalty, except as otherwise permitted by section 5-501(3)(b) of the General Obligations Law, and then only if according to the provisions of the note and mortgage, the interest rate for the loan shall remain fixed for a period of at least five years, the mortgage broker, mortgage banker and/or exempt organization complies with the provisions of sections 38.2, 38.3 and 38.4 of this Title which pertain to prepayment penalties and the loan contract provides for a prepayment penalty; or
(f) any clause allowing the lender to change any term of the mortgage agreement other than in those instances set forth in section 226.5b(f)(3) of Regulation Z (12 CFR part 226).


N.Y. Comp. Codes R. & Regs. Tit. 3 § 80.9

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