Many consumers like to deal with local businesses.
Since this web site deals primarily with New York State real estate, we felt it would be a service to the community to enable consumers to deal with institutions located in their state or even in their own community. There are various types of banking institutions New York State regulates. Pursuant to New York State law, if an organization wants to engage in the business of mortgage lending in New York, it must be licensed by the New York State Banking Department. Some mortgage bankers are exempt from being licensed by the New York State Banking Department. An example why an organization may be exempt is that it is a federally chartered institution and is therefore licensed by the Federal government.