reglab/housing_qa huggingface dataset:
NY Banking L § 593-A (2021)
2021 New York Laws BNK - Banking Article 12-D - Licensed Mortgage Bankers 593-A - Registration Provisions.

§ 593-a.  Registration  provisions.  1.  Each  certificate issued to a   registered mortgage broker under this article shall state the address or   addresses at which the business is to be conducted and shall state fully   the name of the registrant, and the date and place of its  incorporation   if applicable. A copy of such certificate shall be prominently posted in   each  place of business of the registrant. Such certificate shall not be   transferable or assignable. In the  event  the  location  at  which  the   business  is  to  be  conducted  shall  be changed, the registrant shall   forthwith notify the superintendent who shall thereupon  without  charge   attach  to  the  certificate an amendment certificate setting forth such   changed location.2. In addition to the display of  such  certificate,  each  registered   mortgage  broker  shall  prominently  display  a  notice  printed in the   English language, each letter to be  at  least  two  inches  in  height,   indicating  that  the  mortgage broker is not empowered to make mortgage   loans, and such other notices  as  required  by  the  superintendent  of   financial services.
NY Banking L § 594 (2021)
2021 New York Laws BNK - Banking Article 12-D - Licensed Mortgage Bankers 594 - Changes in Officers and Directors.

§ 594.  Changes  in  officers and directors. Upon any change of any of   the executive  officers,  partners  or  directors  of  any  licensee  or   registrant,   the   licensee   or   registrant   shall   submit  to  the   superintendent the name, address, and occupation of  each  new  officer,   partner   or  director,  and  provide  such  other  information  as  the   superintendent may require.
NY Banking L § 595-B (2021)
2021 New York Laws BNK - Banking Article 12-D - Licensed Mortgage Bankers 595-B - Regulation of Mortgage Loan Servicers.

§  595-b.  Regulation  of mortgage loan servicers. 1. Establishment of   grounds to impose a fine or penalty. In addition to  such  other  rules,   regulations  and  policies  as  the  superintendent  may  promulgate  to   effectuate the  purposes  of  this  article,  the  superintendent  shall   promulgate  regulations  and  policies  governing  the  establishment of   grounds to impose a fine or penalty with respect to the activities of  a   mortgage loan servicer.2.  Servicing  practices. In addition to such other rules, regulations   and policies as the superintendent  may  promulgate  to  effectuate  the   purposes  of  this article, the superintendent may prescribe regulations   which relate to: (a) providing for disclosures to borrowers of the basis   for any interest rate resets; (b)  requirements  for  the  provision  of   pay-off  statements;  and  (c)  governing the timing of the crediting of   payments made by the borrower.
NY Banking L § 596 (2021)
2021 New York Laws BNK - Banking Article 12-D - Licensed Mortgage Bankers 596 - Superintendent Authorized to Examine; Expenses.

§ 596. Superintendent authorized to examine; expenses. For the purpose   of  discovering  violations  of  this  article  or  securing information   lawfully required by him hereunder, the superintendent may at any  time,   and  as  often  as  he  or  she may determine, either personally or by a   person duly designated by him, investigate the business and examine  the   books,  accounts,  records,  and  files  used therein of every licensee,   servicer and registrant. For that purpose the superintendent and his  or   her duly designated representative shall have free access to the offices   and  places  of business, books, accounts, papers, records, files, safes   and vaults  of  all  such  licensees,  servicers  and  registrants.  The   superintendent  and  any person duly designated by him or her shall have   authority to require the attendance of and to  examine  under  oath  all   persons whose testimony he or she may require relative to such business.   The expenses incurred in making any examination pursuant to this section   shall  be  assessed  against  and  paid  by  the  licensee,  servicer or   registrant so examined, except that traveling and  subsistence  expenses   so incurred shall be charged against and paid by licensees, servicers or   registrants  in  such  proportions as the superintendent shall deem just   and reasonable, and such proportionate charges shall  be  added  to  the   assessment  of  the  other expenses incurred upon each examination. Upon   written notice by  the  superintendent  of  the  total  amount  of  such   assessment, the licensee, servicer or registrant shall become liable for   and shall pay such assessment to the superintendent.In  any  hearing  in which the bank examiner acting under authority of   this chapter is available for cross-examination,  any  official  written   report, worksheet, other related papers, or duly certified copy thereof,   compiled,  prepared,  drafted,  or otherwise made by said bank examiner,   after being duly authenticated by said  examiner,  may  be  admitted  as   competent  evidence  upon the oath of said examiner that said worksheet,   investigative report, or other related  documents  were  prepared  as  a   result  of  an  examination  of  the  books  and  records of a licensee,   servicer or registrant  or  other  person,  conducted  pursuant  to  the   authority of this chapter.
NY Banking L § 597 (2021)
2021 New York Laws BNK - Banking Article 12-D - Licensed Mortgage Bankers 597 - Books and Records; Reports and Electronic Filing.

§ 597.   Books  and  records;  reports  and  electronic  filing.  Each   licensee, servicer, registrant and exempt organization  shall  keep  and   use  in its business such books, accounts and records as will enable the   superintendent to determine whether such licensee, servicer,  registrant   or  exempt organization is complying with the provisions of this article   and with the rules and regulations lawfully made by  the  superintendent   and  the superintendent of financial services. Every licensee, servicer,   registrant and exempt organization shall preserve such books,  accounts,   and   records,  for  at  least  three  years;  provided,  however,  that   preservation  by  photographic  reproduction  thereof  or   records   in   photographic  form, including an optical disk storage system and the use   of electronic data processing equipment that provides comparable records   to those otherwise required and which are available for examination upon   request shall  constitute  compliance  with  the  requirements  of  this   section.Each licensee and registrant shall annually, on or before a date to be   determined  by the superintendent, file a report with the superintendent   giving such information as the superintendent may require concerning the   business and operations during  the  preceding  calendar  year  of  such   licensee  or  registrant  under  authority  of this article. Such report   shall be subscribed and affirmed as true by the licensee  or  registrant   under  the  penalties  of perjury and shall be in the form prescribed by   the superintendent. In addition to annual  reports,  the  superintendent   may  require such additional regular or special reports as he or she may   deem necessary to the proper supervision of  licensees  and  registrants   under  this  article.  Such  additional  reports  shall  be  in the form   prescribed by the superintendent and shall be subscribed and affirmed as   true under the penalties of perjury.Notwithstanding article three of the state technology law or any other   law to the contrary, the superintendent may require that any application   for, or renewal of, any license or registration or any other  submission   or approval as may be required by the superintendent be made or executed   by  electronic  means  if  he  or  she  deems it necessary to ensure the   efficient administration of this article.The superintendent may require servicers to  file  annual  reports  or   other  regular  or  special  reports,  including reports with respect to   mortgage delinquencies and foreclosures. Such reports shall  be  in  the   form  prescribed  by  the  superintendent  and  shall  be subscribed and   affirmed as true under the penalties of perjury.
NY Banking L § 598 (2021)
2021 New York Laws BNK - Banking Article 12-D - Licensed Mortgage Bankers 598 - Additional Penalties for Violation of This Article; Civil, Criminal; Liquidated Damages.

§ 598.  Additional  penalties  for  violation  of this article; civil,   criminal; liquidated damages. 1. In addition to such  penalties  as  may   otherwise be applicable by law, the superintendent may, after notice and   hearing  as  provided  elsewhere  in  this  article, require any entity,   licensee, servicer, registrant or exempt  organization  found  violating   the  provisions  of this article or the rules or regulations promulgated   hereunder to pay to the people of this state an additional  penalty  for   each  violation  of  the article or any regulation or policy promulgated   hereunder a sum not to  exceed  an  amount  as  determined  pursuant  to   section forty-four of this chapter for each such violation.2.  Whoever  violates  any  provision of the licensing requirements of   subparagraphs (a) and (b) of subdivision two  of  section  five  hundred   ninety  of this article by making a mortgage loan without being licensed   or specifically exempted  from  licensing,  or  soliciting,  processing,   placing  or  negotiating  a  mortgage  loan  without being registered or   specifically exempted from registration, shall be guilty of  a  class  A   misdemeanor,  punishable  as  provided in articles seventy and eighty of   the penal law.3. Liquidated damages. In  addition  to  any  other  remedy  which  an   applicant  for a mortgage loan or mortgagor may have against a licensee,   registrant or exempt organization for breach of contract or agreement to   make a mortgage loan, the court after considering the circumstances  may   award  the  plaintiff,  upon  granting  a  judgment  in  his favor in an   individual action on such claim, liquidated damages an amount  equal  to   twice  the  amount of any fees or other charges paid by the applicant or   mortgagor in connection with such contract or agreement exclusive of any   amounts paid or payable after the mortgage or other security  instrument   is executed.4.  Statutory  or  common-law  remedies. Nothing in this article shall   limit any statutory or common-law right  of  any  person  to  bring  any   action in any court for any act, or the right of the state to punish any   person for any violation of any law.5.  Civil  penalties  assessable  against  unlicensed  or unregistered   persons or entities. If any non-exempt unlicensed or unregistered person   or entity engages in activities encompassed by this article, he shall be   liable to any person or entity affected by such activities for a sum  of   money of not less than the amount of money paid to an affected person or   entity in connection with such activities, nor more than four times such   sum.  Such sum may be sued for and recovered by any person or entity for   his use and benefit in any court of competent jurisdiction.
NY Banking L § 599 (2021)
2021 New York Laws BNK - Banking Article 12-D - Licensed Mortgage Bankers 599 - Separability of Provisions.

§ 599.  Separability  of provisions. If any provision of this article,   or the application of such  provision  to  any  person,  co-partnership,   association,  corporation  or  circumstance,  shall be held invalid, the   remainder of the article, and  the  application  of  such  provision  to   persons,  co-partnerships,  associations,  corporations or circumstances   other than those as to which it is held invalid, shall not  be  affected   thereby.
NY Banking L § 599-A (2021)
2021 New York Laws BNK - Banking Article 12-E - Licensed Mortgage Loan Originators 599-A - Legislative Purpose.

§  599-a.  Legislative purpose. The legislature deems it necessary, in   order to enhance consumer protection, reduce fraud and ensure the public   welfare, that mortgage loan originators who originate mortgage loans  on   residential real property be subject to regulation by the superintendent   and  that  such regulation be consistent with Title V of The Housing and   Economic Recovery Act of 2008,  also  known  as  the  S.A.F.E.  Mortgage   Licensing  Act,  as it may be amended from time to time, and regulations   thereunder or interpretations thereof, that may be adopted from time  to   time  by  the  Secretary  of  the  U.S.  Department of Housing and Urban   Development.
NY Banking L § 599-F (2021)
2021 New York Laws BNK - Banking Article 12-E - Licensed Mortgage Loan Originators 599-F - Pre-Licensing Educational Requirements.

§   599-f.   Pre-licensing   educational   requirements.   1.  Minimum educational requirements. In order to meet the  pre-licensing  education requirement  referred  to  in  this  article, a person shall complete at least twenty hours of education approved in accordance with  subdivision two  of this section, which shall include at least the following minimum requirements:  (a) Three hours of federal law and regulations;  (b) Three hours of ethics, which shall include instruction  on  fraud, consumer protection, and fair lending issues;  (c)  Two  hours  of  training  related  to  lending  standards for the nontraditional mortgage product marketplace; and  (d) Three hours of training on  applicable  New  York  State  law  and regulations as may be approved by the superintendent.   2. Approved education courses. For purposes of subdivision one of this section,   pre-licensing   education  courses  shall  be  such  courses, including the course provider thereof, as shall have been reviewed,  and approved,  by  the  NMLSR  based  upon  reasonable standards. An hour of education for purposes of this article shall be as defined by the NMLSR.   3. Employer and affiliate education courses. Nothing in  this  section shall  preclude  any  pre-licensing education course, as approved by the NMLSR, that is provided by the employer of the applicant  or  an  entity that  is  affiliated  with  the  applicant by an agency contract, or any subsidiary or affiliate of such employer or entity.   4. Venue of education. Pre-licensing education may be  offered  either in a classroom, online or by any other means approved by the NMLSR.   5.  Reciprocity  of education courses. Pre-licensing education courses approved by the NMLSR  pursuant  to  paragraphs  (a),  (b)  and  (c)  of subdivision  one  of  this  section  for  any state shall be accepted as credit towards completion of  pre-licensing  education  requirements  in this state.   6. Re-licensing educational requirements. An individual licensed under this  article  subsequent  to its effective date applying to be licensed again must prove that  he  or  she  has  completed  all  the  continuing education requirements for the year in which the license was last held.
NY Banking L § 599-G (2021)
2021 New York Laws BNK - Banking Article 12-E - Licensed Mortgage Loan Originators 599-G - Testing of Mortgage Loan Originators.

§   599-g.   Testing   of   mortgage   loan  originators.  1.  General requirements.  In order to meet the written test requirement referred to in this article, an  individual  shall  pass,  in  accordance  with  the standards  established  under  this  section,  a  qualified written test developed by the NMLSR and administered by a test provider  approved  by the NMLSR based upon reasonable standards.   2.  Qualified test. A written test shall not be treated as a qualified written test for purposes of subdivision one of this section unless  the test  adequately measures the applicant's knowledge and comprehension in appropriate subject areas, including the following:  (a) Ethics;  (b) Federal law and regulation pertaining to mortgage origination;  (c) State law and regulation pertaining to mortgage origination; and  (d) Federal and state law and  regulation,  including  instruction  on fraud, consumer protection, the nontraditional mortgage marketplace, and fair lending issues.   3.  Testing  location.  Nothing  in this section shall prohibit a test provider approved by the NMLSR from providing a test at the location  of the  employer  of  the  applicant  or  the location of any subsidiary or affiliate of such entity, or the location of any entity with  which  the applicant  holds  an  exclusive arrangement to conduct the business of a mortgage loan originator.   4. Minimum competency. The following conditions apply  to  individuals taking such competency tests:  (a)  An  individual shall not be considered to have passed a qualified written test unless the individual shall have achieved a test  score  of not less than seventy-five percent correct answers to questions;  (b) An individual may retake a test three consecutive times, with each consecutive  taking  occurring  at least thirty days after the preceding test;  (c) After failing three consecutive tests, an individual shall wait at least six months before taking the test again; and  (d) A licensed mortgage loan originator who fails to maintain a  valid license  for  a  period of five years or longer, not taking into account any time during which such individual  is  a  registered  mortgage  loan originator, shall retake the test.
NY Banking L § 599-H (2021)
2021 New York Laws BNK - Banking Article 12-E - Licensed Mortgage Loan Originators 599-H - Mortgage Call Reports.

§  599-h.  Mortgage call reports. Each originating entity shall submit   to the NMLSR reports of condition, which shall be in such form and shall   contain such information as the NMLSR may require.
NY Banking L § 599-I (2021)
2021 New York Laws BNK - Banking Article 12-E - Licensed Mortgage Loan Originators 599-I - Standards for License Renewal; Inactive Status.

§  599-i. Standards for license renewal; inactive status. 1. Standards for renewal. The following minimum standards  for  license  renewal  for mortgage loan originators are hereby established:  (a)  The  mortgage  loan  originator must continue to meet the minimum standards for  license  issuance  set  forth  in  section  five  hundred ninety-nine-e of this article;  (b)  The  mortgage  loan originator must satisfy the annual continuing education requirements described in section five  hundred  ninety-nine-j of this article; and  (c)  The mortgage loan originator must have paid all required fees for the renewal of the license.   2. Failure to satisfy  standards.  The  license  of  a  mortgage  loan originator  failing  to  satisfy the minimum standards for renewal shall terminate. In the event the licensed mortgage loan originator  fails  to pay  such  fee  or  otherwise  satisfy this section, then the department shall notify the originating entity of the termination of  the  license. Such  license  shall  be  reinstated, in the case of a licensed mortgage loan originator failing  to  timely  pay  such  fee,  if  such  licensed mortgage  loan  originator  pays  such fee within sixty days of such due date.   3. Submission of annual request. An annual request for  renewal  of  a license  as a mortgage loan originator shall be affirmed by the mortgage loan originator and  submitted  electronically,  including  through  the NMLSR,  in  such  form  and  in  such manner as may be prescribed by the superintendent. The  annual  request  for  renewal  shall  contain  such information as specified by the superintendent.   4.  Inactive  status. The license of a mortgage loan originator is not effective during any period during which the mortgage loan originator is not employed by, or is an  independent  contractor  of,  an  originating entity.  When a mortgage loan originator ceases to be employed by, or is an independent contractor of, an  originating  entity,  the  originating entity  shall promptly notify the superintendent of the termination date of such employment or affiliation. The license  of  such  mortgage  loan originator  shall  be placed in inactive status until the superintendent receives written or electronic notice of the mortgage loan  originator's new employment or affiliation. A mortgage loan originator shall continue to  pay  the  annual  license fee and to take required education courses while in inactive status.
NY Banking L § 599-K (2021)
2021 New York Laws BNK - Banking Article 12-E - Licensed Mortgage Loan Originators 599-K - Required Surety Bond.

§  599-k. Required surety bond. 1. Each mortgage loan originator shall   be covered by a surety bond in accordance  with  this  section.  In  the   event  that  the  mortgage  loan  originator is an employee or exclusive   agent of an originating entity, the surety bond of such  person  may  be   used  to satisfy the mortgage loan originator's surety bond requirement;   provided that such surety bond contains coverage for each mortgage  loan   originator  not  otherwise  covered  by  a  qualifying surety bond in an   amount prescribed in subdivision two of this section.  The  surety  bond   shall  be in a form prescribed by the superintendent. The superintendent   may promulgate rules or regulations with respect to the requirements for   such surety bonds as are necessary to accomplish the  purposes  of  this   article.2. The penal amount of the required surety bond shall be maintained in   an  amount  that  reflects  the dollar amount of loans originated by the   mortgage loan originator as determined by the superintendent.3.  When  an  action  is  commenced  on   a   licensee's   bond,   the   superintendent may require the filing of a new or supplemental bond.4.  Immediately upon recovery upon any claim or action on or under the   bond, the mortgage loan originator (or the  originating  entity  as  the   case  may  be), shall file a new or supplemental bond restoring the face   amount of the bond to the amount required by the superintendent.
NY Banking L § 599-L (2021)
2021 New York Laws BNK - Banking Article 12-E - Licensed Mortgage Loan Originators 599-L - Reports by the Superintendent; Permissive Challenges by Licensees.

§  599-l.  Reports  by  the  superintendent;  permissive challenges by   licensees.  1.  Notwithstanding  any  other  provisions  of   law,   the   superintendent  shall report on a regular basis, not more than annually,   all violations of this article, as well as enforcement actions and other   relevant information, to the NMLSR subject to the  provisions  contained   in  the confidentiality provisions of section five hundred ninety-nine-q   of this article.2. The superintendent shall establish a  process  whereby  a  mortgage   loan  originator may challenge information entered into the NMLSR by the   superintendent.