Sometimes people e-mail me the most interesting questions. If it is interesting enough I will answer my e-mail in public. I am a paralegal not an attorney so I do not give legal advice but I can share common knowledge.
Today, I shall share two points of order and will make no opinions regarding the quotes. BTW, these little snippets of New York state information can be found on government websites (if you care to look for it) and I am simply going to provide two quotes from here.
I love quoting the government. It makes my life easy. If you repeat the government it's pretty hard to mess the info up. What you each decide to do with it is completely up to you. :-)
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Now that we have all of that out of the way, lets get to the government quotes. Ready? Read:
" § 254-c. Right to a copy of real property appraisals and consumer reports in certain cases. 1. Any lender who requires an applicant for a loan or forbearance, which is to be secured primarily by an interest in real property, to bear the cost of either an appraisal of said property or the cost of obtaining a consumer report subject to the provisions of article twenty-five of the general business law as a condition to the processing of the application or the granting of the loan or forbearance, shall, upon the written request of such applicant, provide to him a copy of said appraisal or consumer report as the case may be, at no additional cost."
" 2. "Lender" as used in this section shall mean and include any bank, trust company, national bank, savings bank, federal mutual savings bank, savings and loan association, federal savings and loan association, private banker, credit union, federal credit union, investment company, insurance company, pension fund, mortgage banker or any other entity."