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News
 Luis Mora is employee of the month.
Information about Luis. Where he went to school. How long he has been in his field. How long he has been with Advance abstract. We are proud of his accomplishments this month. Additional information.
 Does New York Law prohibit mortgage lenders from requiring that borrowers in a real estate transaction obtain title insurance from a specific title insurer, agent or broker as a condition precedent to securing a mortgage commitment?
Yes. N. Y. Ins. Law § 2502(a)(2) (McKinney 2000) prohibits banks, trust companies, savings banks, savings and loan associations and national banks from requiring a borrower to obtain title insurance, from a specific title agent or insurer as a condition to, among other things, securing a mortgage commitment. While N. Y. Ins. Law § 2502(a)(2) (McKinney 2000) does not specifically address other mortgage lenders or their attorneys, N.Y. Banking Law § 595-a(4) (2001) prohibits a mortgage banker or a mortgage broker from requiring a borrower to purchase title insurance from a specific title company, agency or agent as a condition for securing a mortgage commitment.
Luis Mora is employee of the month.
Information about Luis. Where he went to school. How long he has been in his field. How long he has been with Advance abstract. We are proud of his accomplishments this month. Additional information.
560 Northern Blvd. Suite 200 Great Neck, NY 11021
Tel: 516-482-9050 - 718-639-1224 - 914-997-2787 -
Fax: 516-482-9348
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