Mortgage Servicing Requests

The Homeowner Mortgage Servicing Unit is open and available to process your requests during regular business hours. Processing times is currently 8 weeks.

If you received property through an HPD program or if you financed repairs or improvements to your home or multifamily rental property through an HPD program, you may have received subsidies evidenced by a NYC mortgage or Uniform Commercial Code (UCC) financing statement. The mortgage or UCC statement is a lien on your property. If you seek to refinance your mortgage, sell or otherwise transfer ownership of your property or interest, confirm your mortgage amount or pay off your remaining debt, you require mortgage servicing from HPD or one of our servicing partners.

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Owner-occupied one- to four-family homes or condo/co-op apartments

Refinancing

You may generally refinance your home without being required to repay any subsidy to the City so long as your refinancing amount is less than or equal to one of the following (depending on the specific terms of your NYC Mortgage): the subsidized purchase price of your home, the current balance of your existing primary mortgage, or the appraised value of your home.
Instructions for Mortgage Servicing.

Rate & Term

A Rate & Term refinance changes the interest rate and/or term of a mortgage. HPD will issue a Subordination of NYC Mortgage or UCC-3 Amendment, as applicable. If you have a lien (home equity loan/credit line mortgage) that is in addition to the NYC mortgage and your primary mortgage that will not be paid at the proposed closing, you will not be eligible for a Subordination of Mortgage.

Cash-Out

A Cash-Out refinance increases the amount of the existing primary mortgage, providing additional funds to the homeowner. The size of the mortgage is based on your equity in the home.

Payoff: If the amount requires repayment of the outstanding subsidy balance, HPD will send a notice of Pay-off of NYC Mortgage indicating the amount owed. Following our receipt of the pay-off amount, HPD will issue a Satisfaction of NYC Mortgage or UCC-3 Amendment, as applicable.
Partial Payoff: In some cases of Cash-Out refinances, the homeowner will be eligible to repay only a portion of the outstanding subsidy balance; if that is the case for you, HPD will send you a notice of Partial Pay-off of NYC Mortgage indicating the amount owed. The amount payable pursuant to the Partial Pay-off of NYC Mortgage may be paid from the proceeds of the refinance. Following our receipt of the required partial pay-off amount, HPD will issue a Subordination of NYC Mortgage.
- Homeowners who received a HomeFirst, SCHAP, NHS or HIP subsidy are not eligible for a partial pay-off. The payment of the outstanding subsidy balance is required to proceed with a cash-out refinancing.

Sale of Transfer of Property

If you are selling or otherwise transferring ownership of your home, generally you will be required to repay the outstanding subsidy balance. In this case, HPD will send you a notice of Payoff of NYC Mortgage indicating the amount owed. Following our receipt of the payoff amount, we will issue a Satisfaction of NYC Mortgage or UCC-3 Amendment, as applicable. Instructions for Mortgage Servicing.

If you are selling your home for a price less than or equal to the amount you paid to a purchaser who is willing to assume the subsidy balance, or you are adding, removing or changing a name on the deed, you may be eligible to receive an Assignment and Assumption Approval, which would release you from any further obligation. Homeowners who received a HomeFirst, SCHAP, NHS or HIP subsidy are not eligible for assignment and assumption approval. Payoff is required upon property transfer.

In all cases of a sale or other property transfer, the new owner is subject to the same residency restrictions as the original owner, as set forth in the NYC Mortgage and deed.

Payoff / Satisfaction

If you wish to pay off the outstanding subsidy amount, HPD will send you a notice of Payoff of NYC Mortgage indicating the amount owed. Following our receipt of the payoff amount, HPD will issue a Satisfaction of NYC Mortgage or UCC-3 Amendment, as applicable. Similarly, if your mortgage has reached the maturity date and you have met all of the requirements therein, HPD will issue a Satisfaction of NYC Mortgage, which will release your lien. Instructions for Mortgage Servicing.

Multi-family rental buildings and HDFC co-ops

Important note: Property owners are expected to understand and fulfill the requirements for Property Registration and Maintenance, to Clear Violations and Orders (including any DOB or ECB violations or orders), and to understand what Penalties and Fees might apply should an owner fail to meet the requirements of the Housing Maintenance Code and Multiple Dwelling Law.

When processing your servicing request, HPD will confirm whether:

Property Registration is current;
Municipal violations and orders are cleared;
Municipal balances are current (taxes, water, sewer) and arrears are paid off; and,
There are any issues regarding the property owner's compliance with a regulatory agreement or other agreement between the property owner and HPD.

Property owners are encouraged to review and address these items prior to submitting a servicing request or provide an explanation for outstanding items. Failure to address these issues may lead to a delay in processing.

Mortgage Confirmations

If you have questions about mortgage balances serviced by HPD please complete the Mortgage Confirmation Request Form.

Submit your request form via email to mtgeconfirmations@hpd.nyc.gov.

Please note some HPD mortgages are not serviced by HPD. If an outside servicing partner is indicated on your invoice, they should be contacted directly using the contact information provided below:

NYC Housing Development Corporation (HDC): confirmations@nychdc.com
Community Preservation Corporation (CPC): loanservicing@communityp.com

Mortgage Payoffs / Satisfactions / Releases

If you wish to obtain a Payoff Letter that outlines your financial obligation to satisfy your HPD mortgage or are seeking a Satisfaction of your HPD mortgage, please complete the Mortgage Payoff / Satisfaction / Release Request Form and submit your request via email to mtgsatisfact@hpd.nyc.gov.

Please note the following:

Requests will not be processed until all required items are received.
HPD may require additional documentation after review of the items requested in this request form.
Please allow up to 20 days for processing from the date we receive all required documentation. Processing time may be longer during peak closing season months (November-December, May-July). Owners are encouraged to make requests early in order to account for potential delays.

Subordination / SNDA Requests

HPD will consider requests for subordination of loans, security agreements, regulatory and land disposition agreements after a thorough review. HPD will not be responsible for any additional fees or expenses due to the processing of the subordination request.

Please complete the Subordination / SNDA Request Form, along with required items and submit your request via email to AMtransactions@hpd.nyc.gov.

Please note the following:

Requests will not be processed until all required items are received.
HPD may require additional documentation after review of the items requested in this request form.
Please allow up to 30 days for processing from the date we receive all required documentation. Processing time may be longer during peak closing season months (November-December, May-July). Owners are encouraged to make requests early in order to account for potential delays.