New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter B - NON-BANKING ORGANIZATIONS
Part 420 - Mortgage Loan Originators: Licensing; Education Requirements
Section 420.9 - Renewal of License
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Annual expiration of license.
Each MLO license issued by the superintendent under the provisions of article 12-E of the Banking Law shall terminate annually on the annual expiration date, unless renewed.
(b) Submission of annual request for renewal.
An annual request for renewal of a license as an MLO shall be affirmed by the MLO and submitted electronically in such form and in such manner as may be prescribed by the superintendent. Instructions for annual renewal of a license shall be available on the department's website (www.dfs.ny.gov).
(c) Annual license fee.
A completed annual request for renewal shall be accompanied by an annual license fee, established by the superintendent, pursuant to article 12-E.
(d) Information and documents required.
The annual request for renewal shall include the information and documents referred to in Supervisory Procedure MB 107 of this Title as well as such additional information and documents as the superintendent deems necessary to determine whether the MLO continues to satisfy the standards set forth in section 599-e of the Banking Law.
