New York legal term
Residential mortgage loan in New York Criminal Law
Current through 2026 New York legislative session
In New York criminal law, “Residential mortgage loan” is a term defined by statute rather than by its everyday meaning. Its statutory definition — quoted verbatim below — controls how the term is applied throughout the New York criminal code.
What does “Residential mortgage loan” mean in New York criminal law?
"Residential mortgage loan" means a loan or agreement to extend credit, including the renewal, refinancing or modification of any such loan, made to a person, which loan is primarily secured by either a mortgage, deed of trust, or other lien upon any interest in residential real property or any certificate of stock or other evidence of ownership in, and a proprietary lease from, a corporation or partnership formed for the purpose of cooperative ownership of residential real property. 3. (N.Y. Penal Law § 187.00)
Statutes defining or using this term
Related terms in the same statutes
This reference is informational and is not legal advice.