N.Y. Veterans' Services Law § 29-a: Loan counseling for mortgages guaranteed by the Servicemen's Readjustment Act of 1944

* § 29-a. Loan counseling for mortgages guaranteed by the Servicemen's

Readjustment Act of 1944. Upon the request of any veteran, the

department shall provide counseling and assistance to applicants for a

mortgage loan guaranteed by the Servicemen's Readjustment Act of 1944.

Such service shall be provided either directly or through a contract

with a not-for-profit entity which has a Commercial and Government

Entity (CAGE) code assigned by the federal System for Award Management

and which is not owned by, affiliated with or operated by a mortgage

company. Counselors shall be certified by the United States department

of housing and urban development under Part 214 of Title 24 of the Code

of Federal Regulations. Loan counseling and assistance shall include a

review of the terms and restrictions of the loan and any other

information which may be required under federal law, rule or regulation.

The department may promulgate regulations necessary to prevent any

potential conflicts of interest between counselors and mortgage

companies to ensure that any counseling and assistance provided under

the provisions of this section shall be made in the best interest of the

veteran seeking such mortgage loan.

* NB There are 2 § 29-a's