For New York Consolidation, Extension, and Modification Agreement (CEMA) transactions, there may be instances in which no new money, or gap amount, is added. In those cases, lenders may choose whether to print the Gap Note and Gap Mortgage or suppress those documents when they are not needed. To provide more options to support this scenario, a new field has been added: Field 194374 – Default Zero on New York CEMA Gap Note and Mortgage.
If "Yes" is selected (our default), $0.00 will populate in the loan amount and monthly payment fields on the Gap Note and Gap Mortgage when there is no gap amount. Clients who prefer those fields to remain blank instead of displaying $0.00 may set Field 194374 to "No."
This field has been added to the following documents:
cx25455 3233 NY CEMA Gap Fixed Rate Note 2021
cx26172 NY CEMA Gap FHA Fixed Rate Note 2021
cx25962 NY CEMA Gap VA Fixed Rate Note 2021
cx25278 3033 NY CEMA Gap Mortgage 2021
cx26150 NY CEMA Gap FHA Mortgage 2021
These changes are available for testing on Stage and Stage 2 servers and will take effect on June 10, 2026. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
LEG-3808
COM-7407