N.Y. Real Prop. Tax § 954(1) permits a mortgagor, who has established a real property tax escrow account in connection with his loan, to designate a mortgage investing institution to receive tax bills on the subject property, so that such institution can process tax payments through the escrow account.
Such designation should be made on the official RP-954 Tax Escrow Account Designation of Mortgage Investing Institution to Receive Tax Bills form, published by the New York Department of Taxation and Finance on their website (http://www.tax.ny.gov/forms/orpts/orpts_other_forms.htm). Cx2657 is a duplicate of this form.
Cx2657 has been changed from printing whenever a loan has any escrows to printing whenever a loan has a tax escrow, to better suit the narrow purpose of the form. No changes have been made to the form’s content.
These changes will take effect on June 28, 2013. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
June 20, 2013