Expands access to mortgage loans for cooperative properties under the homes for veterans program, as administered by the state of New York mortgage.

The bill amends the public authorities law to expand access to mortgage loans for cooperative properties under the homes for veterans program, as administered by the state of New York mortgage agency. It prohibits rejection of loan applications based on the number of units, occupancy rates, or location of the corporation, the percentage of units already sold, or the status of the corporation as a limited equity cooperative project. The act takes effect on the thirtieth day after it becomes law.

Expands access to mortgage loans for cooperative properties under the homes for veterans program, as administered by the state of New York mortgage.

The bill amends the public authorities law to expand access to mortgage loans for cooperative properties under the homes for veterans program, as administered by the state of New York mortgage agency. It prohibits rejection of loan applications based on the number of units, occupancy rates, or location of the corporation, the percentage of units already sold, or the status of the corporation as a limited equity cooperative project. The act takes effect on the thirtieth day after it becomes law.