New York's Mortgage Disclosure Law Lands Amid Volatile Rates - Local Mortgage Broker Weighs In

BROOKLYN, NY / ACCESS Newswire / July 9, 2025 / Homeowners in Brooklyn now face a pivotal moment for refinancing and homebuying. On June 11, 2025, New York's AB 9686 went into effect, requiring licensed lenders and mortgage brokers to provide a standardized "What Mortgage Applicants Need to Know" pamphlet within three business days of application . John Lundholm - NMLS 481248, Mortgage Broker at Quintessential Mortgage Group, says this regulatory shift could influence refinancing decisions this month of June in Brooklyn's market.

Mortgage Broker in Brooklyn, NY: What This Means for You

As a local mortgage broker, John Lundholm notes the timely disclosure rule enhances transparency-"Homeowners now receive essential information in writing, empowering smarter comparisons between lenders." Offering this pamphlet positions brokers in Brooklyn to lead with clarity and trust.

Why It's Newsworthy: Regulations Meet Refinancing Trends

• What: NY's new pamphlet disclosure law targets all licensed brokers and lenders.

• When: Effective June 11, 2025, with pamphlets due by the third business day post-application

• Where: Applies statewide-impacting Brooklyn's residential refinance market.

• Why: With rising mortgage rates, many Brooklyn homeowners are re-evaluating their options. Transparent disclosures help inform decisions.

• How: Brokers like John are already rolling out pamphlet-based consultation to stay compliant and client-focused.

Expert Insights & Local Market Context

"Local interest rates remain historically low compared to national averages," says Lundholm. "Combining that with mandated transparency, homeowners in Brooklyn, NY have more leverage and clarity." His team reports a 20% uptick in refinance inquiries since the disclosure law took effect.

About Quintessential Mortgage Group

John Lundholm - NMLS 481248 - is a seasoned mortgage broker in Brooklyn, NY, specializing in refinancing, first-time homebuyer programs, and competitive loan structures. His approach combines regulatory compliance, local market insight, and personalized client service.

Compliance Notice

This press release complies with New York law AB 9686 disclosure requirements. Quintessential Mortgage Group provides the required "What Mortgage Applicants Need to Know" pamphlet in all residential mortgage applications.

Media Contact

Name: John Lundholm - NMLS 481248 - Loan Officer at Quintessential Mortgage Group
Email: johnlundholm@gmail.com
Phone: +1 (917) 727-2504

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SOURCE: John Lundholm - NMLS 481248 - Loan Officer at Quintessential Mortgage Group