New York Law Forces Lenders, Mortgage Brokers Into “Duty of Care” For Suitability of New Loan

(From New York Times)
NEW YORK’S borrowers could notice a different tone in their discussions with mortgage brokers in coming months, as brokers adjust to a new state law that seeks to stem foreclosures.
The legislation, which was passed by the New York Legislature in June and is expected to be signed by Gov. David A. [...]