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| Mortgage Banker Branch License |
 Permit Information
| Permit ID: |
BANK-0021 |
Agency Code: |
0700 |
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| Agency Name: |
Financial Services, Department of (Banking Industry) |
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| Permit Name: |
Mortgage Banker Branch License |
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| Permit Description: |
Licnese required for licensed New York State mortgage bankers that solicit or process loans from locations other than its principal place of business, irrespective of whether the only contact such locations have withapplicants is by internet, telephone, facsimile or other electronic process. |
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| Application Form: |
Uniform Mortgage Branch Office Form |
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| Form Number/Date: |
Form MU3 |
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| Downloadable Application Form: |
http://mortgage.nationwidelicensingsystem.org/licensees/resources/LicenseeResources/Form%20MU3.pdf |
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| Apply Online: |
Nationwide Mortgage Licensing System (NMLS) at http://mortgage.nationwidelicensingsystem.org/ |
Authority
| Statutory Authority: |
NYS Banking Law, Article 12-D, Section 591.3 |
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| Regulatory Authority: |
None |
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Federal Authority:
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None |
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Category of Business
Regulated by Permit: |
Finance & Insurance & Real Estate |
Fees and Requirements
| Fees: |
Type Amount Returnable
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1. Investigation $500.00 No
Comments: Fee includes NMLS processing fee.
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| Fee Payment Options: |
Visa or MasterCard, ACH payments |
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| Comments: |
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Additional
Documentation: |
1. Full service - resume and employment contract of branch manager; lease loan solicitation - lease.
Always Required
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| Comments: |
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| Supplemental Permits: |
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None |
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| Comments: |
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| Special Requirements: |
None |
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| Comments: |
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| Additional Information: |
1. Permit/license must be posted |
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| Comments: |
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Processing
| Average Application Processing: |
Initial: |
30 |
Days |
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Renewal: |
0 |
Days |
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| Common Denial Reasons: |
Insufficient information |
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| Permit Term: |
Annual |
Explain: |
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| Renewable: |
Yes |
How Often:
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License issued in perpetuity but annual fee must be paid to maintain license. |
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| Automatically Sent: |
No |
Explain: |
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| Grace Period: |
No |
Explain: |
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| Late Penalty: |
No |
Explain:
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| Application Submittal: |
Electronic (Internet) |
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Comments:
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Licensing/Application Inquiries
| Agency: |
NYS Department of Financial Services (Banking Industry) |
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| Address: |
Mortgage Banking Division
One State Street
New York, NY 10004-1511
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| Phone: |
(212) 709-5542 |
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Other Sources
for Applications: |
Website; NMLS Website |
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| Agency Website: |
http://dfs.ny.gov
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