If you are a homeowner who purchased a home through an HPD program, you may have received a subsidy at the time of purchase. This subsidy is in the form of a note(s) and a mortgage. The mortgage is a lien on your property. If you are selling, refinancing, or transferring ownership of your home or wish to pay off your outstanding subsidy balance, you require mortgage servicing.
All mortgage servicing is initiated with a written request to HPD's Homeowner Mortgage Servicing unit, complete with supporting documentation demonstrating that you are in compliance with the requirements of your deed and NYC Mortgage. In most cases, the NYC Mortgage and the deed to a home purchased through an HPD program require that you occupy at least one unit in the home as your primary residence for a specified number of years. Therefore, the supporting documentation must demonstrate that you reside at the property.
For all mortgage servicing requests, please follow the procedures outlined below:
1. Mortgage Servicing Request Form:
Print and complete a Mortgage Servicing Request Form (PDF) providing ALL requested information. Submission of an incomplete application will add to the processing time of your request.
If you do not already know your tax block and lot numbers, click here to obtain them using the borough and street address of the home.
If you are not sure what type of mortgage servicing you need, click here to find more information about each option.
Print and sign an Affidavit (PDF) confirming that you occupy at least one unit in the property as your primary residence. Please submit the original notarized form. Submitting copies will delay the processing of your application
If you are not required to occupy the home as your primary residence, please submit a brief letter of explanation.
If you are required to occupy the home, and no longer reside there, please submit a letter of explanation stating when you last utilized the subject property as your primary residence with Proof of Residency.
3. Proof of Residency:
Provide proof of residency including a copy of at least one document from each of the lists below.
A copy of at least one (1) of the following:
o NYS Driver License
o NYS Non-Driver ID Card
o W-2 Form
o Social Security Statement
o Certified Copies of NYS or US Tax Returns
AND, a copy of at least one (1) of the following:
o NYS Motor Vehicle Registration
o US Bank Statement
o Major US Credit Card Statement
o Utility Bill (gas or electric)
o Insurance Policy
o School Registration
o Voter Registration
4. Mortgage Servicing Options:
If you're refinancing, selling/transferring your home, or wish to pay off your subsidy balance, you require mortgage servicing. All required documents for each objective are outlined below.
Refinance and Payoff
If you are refinancing for an amount equal to or less than the amount you paid for your home, you may be eligible for a Subordination of NYC Mortgage. NOTE: If you have a lien (home equity loan / credit line mortgage) which is in addition to the HPD mortgage and initial purchase mortgage that will not be paid at the proposed closing, you will not be eligible for a Subordination of Mortgage. For more information on why, please see the FAQs at the bottom of this page.
If the refinance amount exceeds the amount you paid for your home, you may be eligible to repay only a portion of the outstanding subsidy balance and issued a Partial Payoff of NYC Mortgage. This amount would be paid from the proceeds of the refinance. Following receipt of the required partial payoff amount, you will be issued a Subordination of NYC Mortgage.
If you wish to payoff the outstanding subsidy amount or you are refinancing and the refinance amount exceeds the amount you paid for your home you may be required to repay the outstanding subsidy balance and issued a Payoff of NYC Mortgage. Following receipt of the payoff amount, a Satisfaction of NYC Mortgage will be issued.
Satisfaction of NYC Mortgage:
If your mortgage has reached the maturity date and/or you have met the requirements therein, you may be eligible for a Satisfaction of NYC Mortgage. Note: Proof of mortgage payment (i.e., copies of front and back of cancelled checks) may be requested to process a Satisfaction.
Required Documentation for Refinance and Payoff:
Good Faith Estimate signed by all homeowners (Refinance only);
Commitment Letter signed by all homeowners (Refinance only);
Mortgage Schedule from current Title Report;
Executed Original HUD-1 Settlement Statement from initial purchase;
Preliminary HUD-1 Settlement Statement for current refinance, if any existing home equity liens.
Sale or Transfer of Property
If you are selling your home for a price that exceeds the amount you paid for your home, you may be required to repay the outstanding subsidy balance and issued a Payoff of NYC Mortgage. Following receipt of the payoff amount, a Satisfaction of NYC Mortgage will be issued.
Assignment and Assumption:
If you are selling your home for a price that is less than or equal to the amount you paid for the home to a prospective purchaser willing to assume the subsidy balance, or you are transferring the property to another person, or you are adding, removing, or changing a name on the deed you may be eligible to receive an Assignment and Assumption Approval.
Required Documentation for Sale or Transfer:
Executed Contract of Sale (for proposed resale);
Mortgage Schedule from current Title Report;
Executed HUD-1 Settlement Statement from initial purchase;
Marriage Certificate, Divorce Decree, Separation Agreement, Birth Certificate, or Death Certificate (as applicable for adding, removing, or changing a name on the deed to your home)
Notarized Letters of Intent from both the owner and the prospective purchaser (for Assignment and Assumption, only)
In all cases involving property transfer or resale, the new owner is subject to the same residency restrictions as the original owner as defined in the deed and NYC Mortgage.
Cooperative Units - ANY servicing request for a CO-OP must contain the following:
Certificate of Coop Shares
Purchase Agreement or Contract of Sale
Letter from Management Company stating history of occupancy and subletting
Schedule-A from the Co-op Offering Plan
5. Mortgage Servicing Fee:
There is a non-refundable $400 fee for ALL servicing requests. Please submit a Bank or Certified Check or US Postal Money Order payable to:
NEW YORK CITY DEPARTMENT OF FINANCE
Be sure to include on the front of the Certified or Bank Check or US Postal Money Order:
Personal checks and escrow checks are not acceptable and will be returned.
6. Mailing Instructions:
Submit the entire package of the above referenced materials to the following address:
NYC Department of Housing Preservation and Development
The Homeowner Mortgage Servicing Unit
100 Gold Street, Room 7-U1
New York, New York 10038
Attn: Intake Coordinator
If additional documentation (except for Original Affidavit / Mortgage Servicing Fee) is requested, please submit to Mortintake@hpd.nyc.gov. Be sure to include: Homeowner Name(s), Address, Borough,Tax Block and Lot Numbers with your submission.
Please be aware, failure to submit all required materials may delay or prevent the processing of your request.
The Homeowner Mortgage Servicing unit processes all requests in the order in which they are received. Please do not send duplicate requests as this will only delay the processing of your response. Please allow several weeks for processing.
7. More Information and Contact:
Click here to view the Frequently Asked Questions (FAQs).
If you need to speak with a representative of the Homeowner Mortgage Servicing unit, please call (212) 863-6914 between the hours of 10 am and 4 pm.