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Updated
06/11/2008
State of New York
Banking Department
Legal Financial Services Division
2 Rector Street
21st Floor
New York, NY 10006
Banking Department
One State Street
New York, NY 10004-1417
Superintendent: Diana L. Taylor
Attn: Deputy Super. Peter Philbin
Telephone: (212) 709-5540 Fax: (212) 709-5555
Ph: 212/618-6642 Fax: 212-618-6426
Summary
The era of loan officer registration in New York has begun. Loan
Officer Registration is required for Mortgage Brokers by 4/15/08.
While New York’s licensing statute for mortgage lenders and brokers was
originally enacted in 1986, guiding the licensing of mortgage banking
and brokering firms, new brokers and and loan officers will be required
to register.
Mortgage Banker License and Mortgage Broker Registration requires at
least 5 years of experience in the mortgage lending industry.
Exemption from experience requirement
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Real estate brokers in good standing
with the Secretary of State
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attorneys-at-law
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Licensed real estate salespeople need
two years of active participation in the residential mortgage
business.
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Applicants must have a minimum of two
years of credit analysis or underwriting experience in the
mortgage-banking field.
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