A loan policy shall not be issued for less than
the full unpaid principal amount of the New York mortgage liability
except under the provisions of Section 3(A) (Co-Insurance) or Section
36 (Reverse Mortgages).
A loan policy insuring Negative Amortization
may not be issued in an amount less than the maximum principal
amount (including interest which may be added to principal)
which may be secured by such mortgage.