Do you offer CEMA (Consolidation Extension & Modification Agreement)?

For customers with properties in the state of New York, we offer CEMA (Consolidation Extension & Modification Agreement). A CEMA is an option available to New York property owners to reduce the cost of refinancing a mortgage. CEMA loans allow customers to pay mortgage recording taxes on only the difference between their current unpaid principal balance and their new loan amount.

Each lender and its bank attorney will have CEMA fees. You will need to determine whether it makes sense to proceed with a CEMA. Please consult with your new lender for advice on qualifications. They may contact us to request our initial CEMA requirement information letter.