New York § 599-A Legislative purpose

New York Statutes

§ 599-A — Legislative purpose

New York § 599-A

Law BNKBanking

Art. 12-ELicensed Mortgage Loan Originators

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Bluebook

N.Y. Banking § 599-A (2026).

Text

  § 599-a. Legislative purpose. The legislature deems it necessary, in\norder to enhance consumer protection, reduce fraud and ensure the public\nwelfare, that mortgage loan originators who originate mortgage loans on\nresidential real property be subject to regulation by the superintendent\nand that such regulation be consistent with Title V of The Housing and\nEconomic Recovery Act of 2008, also known as the S.A.F.E. Mortgage\nLicensing Act, as it may be amended from time to time, and regulations\nthereunder or interpretations thereof, that may be adopted from time to\ntime by the Secretary of the U.S. Department of Housing and Urban\nDevelopment.\n

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§ 599-a. Legislative purpose. The legislature deems it necessary, in\norder to enhance consumer protection, reduce fraud and ensure the public\nwelfare, that mortgage loan originators who originate mortgage loans on\nresidential real property be subject to regulation by the superintendent\nand that such regulation be consistent with Title V of The Housing and\nEconomic Recovery Act of 2008, also known as the S.A.F.E. Mortgage\nLicensing Act, as it may be amended from time to time, and regulations\nthereunder or interpretations thereof, that may be adopted from time to\ntime by the Secretary of the U.S. Department of Housing and Urban\nDevelopment.\n