New York Banking Law Article 12-D - LICENSED MORTGAGE BANKERS
- 589 - Declaration of Policy.
The origination, funding and servicing of residential mortgage loans and the types of entities involved in residential mortgage lending has undergone significant changes in recent...
- 590 - Licensing.
1. Definitions. (a) "Mortgage loan" shall mean a loan to a natural person made primarily for personal, family or household use, secured by either a...
- 590-a - Junior Mortgage Loans.
1. A licensee may make a loan to a natural person upon the security of a mortgage on residential real property which is not a...
- 590-b - Responsibilities.
1. Each mortgage broker shall, in addition to the duties imposed by otherwise applicable provisions of state and federal law, with respect to any transaction,...
- 591 - Application for a Mortgage Banker's License; Fees.
1. The application for a license to be a mortgage banker shall be in writing, under oath, and in the form prescribed by the superintendent....
- 591-a - Application to Register As a Mortgage Broker; Fees.
1. An application to become registered as a mortgage broker shall be in writing, under oath, in such form as shall be prescribed by the...
- 592 - Application Process to Receive License to Engage in the Business of Mortgage Banking.
1. Upon the filing of an application for a license, if the superintendent shall find that the financial responsibility, experience, character, and general fitness of...
- 592-a - Application Process to Register As a Mortgage Broker.
1. Upon the filing of an application for registration, if the superintendent shall find that the financial responsibility, experience, character, and general fitness of the...
- 593 - License Provisions.
Each license issued under this article shall state the address or addresses at which the business is to be conducted and shall state fully the...
- 593-a - Registration Provisions.
1. Each certificate issued to a registered mortgage broker under this article shall state the address or addresses at which the business is to be...
- 594 - Changes in Officers and Directors.
Upon any change of any of the executive officers, partners or directors of any licensee or registrant, the licensee or registrant shall submit to the...
- 594-b - Changes in Control.
1. It shall be unlawful except with the prior approval of the superintendent for any action to be taken which results in a change of...
- 595 - Grounds for Suspension or Revocation of License, or Suspension or Deletion of Name From Mortgage Broker Roll.
1. The superintendent may revoke any license to engage in the business of a mortgage banker issued pursuant to this article or delete the name...
- 595-a - Regulation of Mortgage Brokers, Mortgage Bankers and Exempt Organizations.
1. Establishment of grounds to impose a fine or penalty. In addition to such other rules, regulations and policies as the superintendent of financial services...
- 595-b - Regulation of Mortgage Loan Servicers.
1. Establishment of grounds to impose a fine or penalty. In addition to such other rules, regulations and policies as the superintendent may promulgate to...
- 595-c - Regulation of Dealings of Mortgage Brokers and Home Improvement Contractors.
1. No home improvement contractor nor any agents or salespersons thereof shall represent, act as an agent for, or advertise, promote or arrange for the...
- 596 - Superintendent Authorized to Examine; Expenses.
For the purpose of discovering violations of this article or securing information lawfully required by him hereunder, the superintendent may at any time, and as...
- 597 - Books and Records; Reports and Electronic Filing.
Each licensee, servicer, registrant and exempt organization shall keep and use in its business such books, accounts and records as will enable the superintendent to...
- 598 - Additional Penalties for Violation of This Article; Civil, Criminal; Liquidated Damages.
1. In addition to such penalties as may otherwise be applicable by law, the superintendent may, after notice and hearing as provided elsewhere in this...
- 599 - Separability of Provisions.
If any provision of this article, or the application of such provision to any person, co-partnership, association, corporation or circumstance, shall be held invalid, the...
Last modified: February 3, 2019