N.Y. Comp. Codes R. & Regs. tit. 3 § 410.5

Current through Register Vol. 46, No. 25, June 18, 2024

Section 410.5 - Branch application; investigation fees

(a) A mortgage broker or mortgage banker may apply to open and maintain one or more branches. A branch may be applied for by application containing the information and documents set forth in a form which may be obtained from the Banking Department, at the address set forth in section 1.1 of Supervisory Policy G 1 of this Title. If an application is requested in writing, the address should indicate the following: Attn: Mortgage Banking Division.

(1) An application for a branch filed by a mortgage banker shall be accompanied by payment of the fee specified in section 1.2 of Supervisory Policy G 1 of this Title.

(2) An application for a branch filed by a mortgage broker shall be accompanied by payment of the fee specified in section 1.2 of Supervisory Policy G 1 of this Title.

(b) In the event the superintendent does not reject the application for a branch within 30 days of publication of the receipt of a completed application, the mortgage broker or mortgage banker may open the branch.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 410.5