Assembly BillIntroduced
A 4829: Relates to penalties for violations of article fifteen of the executive law committed by mortgage bankers and mortgage brokers; includes such violations as grounds for suspension or revocation of license or registration.
What A 4829 does, verified January 8, 2026
The bill aims to amend the banking law to increase penalties for certain violations committed by mortgage bankers and mortgage brokers. The bill adds a new paragraph to the banking law, which allows for increased penalties for violating specific provisions of the law, including those related to real property law. The bill also clarifies that mortgage bankers and mortgage brokers can be held liable for violating the provisions of the real property law, even if they did not directly make the mortgage loan. The bill takes effect immediately, increasing the penalties for certain violations committed by mortgage bankers and mortgage brokers.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: referred to banks (2026-01-07)Alert me
Quick answers about A 4829
- What is the current status of A 4829?
- As of January 8, 2026, A 4829 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "referred to banks".
- Did A 4829 pass?
- Not yet. A 4829 has been introduced and has not passed either house.
- Who wrote A 4829, and where is it now?
- A 4829 was authored by Asm. Kwani O'Pharrow. Its committee of record is Assembly Banks.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | referred to banks |
| Feb. 06, 2025 | referred to banks |
Latest bill textIntroduced version, February 6, 2025 · 377 words
STATE OF NEW YORK ________________________________________________________________________ 4829 2025-2026 Regular Sessions IN ASSEMBLY February 6, 2025 ___________ Introduced by M. of A. O'PHARROW -- read once and referred to the Committee on Banks AN ACT to amend the banking law, in relation to penalties for certain violations committed by mortgage bankers and mortgage brokers The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (a) of subdivision 1 of section 595 of the bank- 2 ing law, as amended by chapter 291 of the laws of 2014, is amended to 3 read as follows: 4 (a) Through a course of conduct, the licensee or registrant has 5 violated any provisions of this article, or article fifteen of the exec- 6 utive law committed in their capacity as a mortgage banker or mortgage 7 broker, or any rule or regulation promulgated by the superintendent of 8 financial services under and within the authority of this article or of 9 any other law, rule or regulation of this state or the federal govern- 10 ment; 11 § 2. Paragraphs (g) and (h) of subdivision 1 of section 595-a of the 12 banking law, paragraph (g) as amended and paragraph (h) as added by 13 chapter 308 of the laws of 2006, are amended and a new paragraph (i) is 14 added to read as follows: 15 (g) Violation of section six-j of this chapter; [and] 16 (h) Making a mortgage loan, or indirectly or directly providing for 17 the making of a mortgage loan, to an equity purchaser, as defined in 18 section two hundred sixty-five-a of the real property law, if the mort- 19 gage banker, mortgage broker or exempt organization had knowledge that 20 the equity purchaser was not complying with the provisions of section 21 two hundred sixty-five-a of the real property law with respect to such 22 transaction[.]; and 23 (i) Violation of article fifteen of the executive law committed in 24 their capacity as a mortgage banker or mortgage broker. 25 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08808-01-5
Text of A 4829 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions