On August 10, the New York State Banking Department issued new regulations, effective October 1, that address the business practices of mortgage loan servicers handling New York-based mortgages and establish additional consumer protections for homeowners.  The regulations set forth standards for handling loss mitigation efforts, directions for day-to-day dealings between servicers and borrowers, and prohibited actions such as engaging in unfair or deceptive business practices.  The requirements are similar to the voluntary servicer guidelines under HAMP, but will be enforceable by state as well as by federal regulators.  Release. Adopted Regulations.