New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 39 - Exempt Organizations; Subsidiaries Of Exempt Organizations; Exempt Mortgage Products
Section 39.1 - Purpose
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 39.1
Current through Register Vol. 46, No. 12, March 20, 2024
The purpose of this Part is to define the entities engaged in the business of soliciting, negotiating, placing, processing or making mortgage loans secured by a first or junior lien that will be exempt from the registration or licensing requirements of article 12-D of the Banking Law, and to define mortgage loan products, the brokering or funding of which do not require registration or licensing as a mortgage banker or mortgage broker under article 12-D.
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