N.Y. BNK Law § 599-M — New York Code / Act BNK / Article 12-E / Section 599-M
Required records and reporting
Status: in_force

§ 599-m. Required records and reporting. 1. Educational records. Each\noriginating entity shall obtain and retain acceptable documentation of\nthe satisfactory completion of education courses required pursuant to\nthis article by each mortgage loan originator employed by or affiliated\nwith such originating entity and shall provide such documentation at the\nrequest of the superintendent. Such documentation shall be retained by\nan originating entity for six years. An originating entity shall retain\na copy of any original proof or record of completion provided by a\nmortgage loan originator. In those instances when an originating entity\nalso retains the original proof or record of such completion of any then\napplicable education requirement, such originating entity shall provide\nthe original proof or record, upon request, when a mortgage loan\noriginator terminates or has terminated his or her employment or\naffiliation with the originating entity.\n  2. List of licensed mortgage loan originators. The superintendent\nshall maintain upon the internet web-page of the department a list of\nthe mortgage loan originators licensed and in good standing. Such list\nshall indicate the name, license number and current originating entity,\nif any, employing each mortgage loan originator or with whom such\nmortgage loan originator is affiliated.\n  3. Reports by originating entities. Each originating entity shall on a\nquarterly basis in each calendar year provide the superintendent, in\nwritten or electronic form, with a list of the mortgage loan originators\nemployed by, or affiliated with, such originating entity and shall also\nadvise in such report of any dismissal for cause of a mortgage loan\noriginator employed by, or affiliated with, such originating entity\nduring such quarter, which is due or based upon an alleged violation of\nthis chapter or any law involving real property.\n  4. Reports by mortgage loan originators. Each mortgage loan originator\nshall promptly notify the superintendent of the following:\n  (a) A change in his or her primary residence address;\n  (b) Any felony conviction or pending felony charges; any charge of or\nconviction with respect to a misdemeanor involving financial services or\na financial services related business; or any charge or conviction\ninvolving fraud, false statements or omissions, theft or wrongful taking\nof property, bribery, perjury, forgery or extortion subsequent to\ninitial authorization;\n  (c) Any termination of or resignation from employment of affiliation\nwith an originating entity;\n  (d) Any initiation, settlement or resolution of any complaint, action\nor proceeding brought against him or her by a state or federal\ngovernmental unit or self-regulatory organization in connection with a\nfinancial services-related activity or business or involving fraud,\nmisrepresentation, consumer deception, larceny or perjury;\n  (e) Any initiation, settlement or resolution of any other civil action\nor proceeding against him or her involving fraud, misrepresentation,\nlarceny or perjury; and\n  (f) Any other matters as directed by the superintendent.\n