2023 New York Laws › BNK - Banking › Article 12-D - Licensed Mortgage Bankers › 595 - Grounds for Suspension or Revocation of License, or Suspension or Deletion of Name From Mortgage Broker Roll.

§  595. Grounds for suspension or revocation of license, or suspension
or deletion of name from mortgage broker roll. 1. The superintendent may
revoke any license to engage in the business of a mortgage banker issued
pursuant to this article or delete the name of a  mortgage  broker  from
the  roll  of mortgage brokers registered pursuant to this article if he
shall find that:
(a) Through a course  of  conduct,  the  licensee  or  registrant  has
violated  any  provisions  of  this  article,  or any rule or regulation
promulgated by the superintendent of financial services under and within
the authority of this article or of any other law, rule or regulation of
this state or the federal government;
(b) Any fact or condition exists which, if it had existed at the  time
of the original application for such license or registration, would have
warranted  the  superintendent  in  refusing  originally  to  issue such
license;
(c) The commission by a licensee or registrant of a crime against  the
laws  of this state or any other state or of the United States involving
moral turpitude or fraudulent or dishonest dealing, or the  entry  of  a
final  judgment  against a licensee or registrant in a civil action upon
grounds of fraud, misrepresentation or deceit;
(d)  As  a  part  of  such  determination  regarding   suspension   or
revocation,   the   superintendent   is   authorized   to   require  the
fingerprinting of any licensee or registrant. Such fingerprints shall be
submitted to the division of  criminal  justice  services  for  a  state
criminal  history record check, as defined in subdivision one of section
three thousand thirty-five of the education law, and may be submitted to
the federal bureau of investigation  for  a  national  criminal  history
record check.
2.  The  superintendent  may, on good cause shown, or where there is a
substantial risk of public harm, suspend any license or delete the  name
of  any  registrant  for  a  period  not  exceeding thirty days, pending
investigation. "Good cause", as used in this  subdivision,  shall  exist
only  when  the  licensee  or  registrant  has defaulted or is likely to
default in performing its financial engagements or engages in  dishonest
or inequitable practices which may cause substantial harm to the persons
afforded the protection of this article.
3.  Except  as provided in subdivision two of this section, no license
or registration shall be revoked or suspended except after notice and  a
hearing  thereon.  Any  order  of  suspension  issued after notice and a
hearing may include as a condition of reinstatement that the licensee or
registrant make restitution to consumers of fees or other charges  which
have   been  improperly  charged  or  collected  as  determined  by  the
superintendent.
4. Any licensee or registrant may surrender any license or certificate
by delivering to the  superintendent  written  notice  that  it  thereby
surrenders  such  license  or  certificate, but such surrender shall not
affect such licensee's or registrant's civil or criminal  liability  for
acts  committed prior to such surrender. If such surrender is made after
the issuance by the superintendent of a statement of charges and  notice
of  hearing,  the  superintendent  may  proceed  against the licensee or
registrant as if such surrender had not taken place.
4-a. An expiration of registration in  accordance  with  section  five
hundred  ninety-two-a of this article shall not affect such registrant's
civil  or  criminal  liability  for  acts  committed   prior   to   such
expirations.  If  such  expiration  occurs  after  the  issuance  by the
superintendent of a statement of charges  and  notice  of  hearing,  the
superintendent  may proceed against the registrant as if such expiration
had not taken place.
5. No revocation, suspension, surrender or expiration of  any  license
or  certificate shall impair or affect the obligation of any preexisting
lawful contract between the licensee or registrant and any person.
6. Every license or registration issued pursuant to this article shall
remain  in  force  and  effect  until  the  same  shall  have expired in
accordance with section five hundred ninety-two-a  of  this  article  or
shall have been surrendered, revoked or suspended in accordance with any
other  provisions  of  this  article,  but the superintendent shall have
authority to reinstate a suspended license or certificate or to issue  a
new  license or certificate to a licensee or registrant whose license or
registration shall have been revoked if no fact or condition then exists
which would have warranted the superintendent in refusing originally  to
issue such license or registration under this article.
7.  Whenever  the  superintendent shall revoke or suspend a license or
registration issued pursuant to this article, he shall forthwith execute
in duplicate a written order to that effect.  The  superintendent  shall
file one copy of such order in the office of the department of financial
services  and  shall forthwith serve the other copy upon the licensee or
registrant. Any such order may be reviewed in  the  manner  provided  by
article  seventy-eight  of  the  civil  practice  law  and  rules.  Such
application for review as authorized by this section must be made within
thirty days from the date of such order of suspension or revocation.
7-a. Whenever a registration shall have  expired  in  accordance  with
section  five  hundred  ninety-two-a of this article, the superintendent
shall notify the registrant that the registration has expired  and  that
the registrant may not engage in the business of soliciting, processing,
placing  or negotiating a mortgage loan or offering to solicit, process,
place or negotiate a mortgage loan in this state.
8. Any hearing held pursuant to the provisions of this  section  shall
be  noticed,  conducted  and  administered  in compliance with the state
administrative procedure act.