NY S07148

Amends Public Authorities Law Section 2404(9) to expand the New York State Mortgage Agency's authority to sell mortgages and personal property at public or private sale.

Removes restrictions that previously limited private sales to federal agencies, the Federal National Mortgage Association, or banks that originally sold mortgages to the agency.

Allows the agency to sell mortgages at any price it determines, subject to agreements with bondholders or noteholders.

Requires publication of notice in a financial newspaper or journal published in New York City at least five days before any public sale of mortgages.

Takes effect immediately upon enactment.