N.Y. Banking Law § 6-e: Graduated payment mortgages authorized

§ 6-e. Graduated payment mortgages authorized. Notwithstanding any

inconsistent provision of this chapter or other law and in addition to

any other power exercisable by it, every banking organization, licensed

mortgage banker, national banking association, federal savings bank,

federal savings and loan association and federal credit union shall have

the power to offer graduated payment mortgages and loans which conform

to the provisions of section two hundred seventy-nine of the real

property law, subject to the rules and regulations prescribed by the

superintendent of financial services.