New York State Mortgage Broker Branch Registration Page 3
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RELOCATIONS OUTSIDE NEW YORK STATE. – If you are moving the
branch office from a location within the State of New York to a location
outside the State of New York you must also provide a brief statement
summarizing the reason for relocating the office outside the State of New
York. The narrative must address how branch personnel solicit potential
borrowers for New York property (i.e. face-to-face, internet, mass mailings,
emails, telephone, advertisements etc.) and the manner in which
disclosures and mortgage documents are transmitted between the borrower
and branch employees. If the internet will be used, please provide the
domain name for the respective website.
N/A
DUAL AGENCY AFFIDAVIT If the branch manager or other employee of
the branch holds a real estate broker or sales person license or functions
as an attorney on residential mortgage transactions, or the branch is
physically located on the premises of a real estate agency a Dual Agency
form must be submitted. Download form at
Additionally, if the proposed branch
location shares office space with a real estate firm you must include a
written statement addressing the treatment of confidential information and
maintenance of files in compliance with the Regulations of the Department
of Financial Services and the Department of State.
N/A
NET BRANCH CERTIFICATION. Provide a certification on corporate
letterhead, signed by a principal officer or owner, attesting to the applicant’s
knowledge and understanding of the Department’s prohibition against net
branching. You attention is directed to Section 38.1(u) of the General
Regulations of the Banking Board. Original signature document required.
N/A
EMPLOYMENT AND COMPENSATION CONTRACT – A branch manager
Employment and Compensation Contract must be provided if the current
branch location was registered prior to January 1, 2006 or where the
branch manager is changing simultaneously with a change in branch
address.
If the branch manager does not have an employment or compensation
contract, you must submit a letter must accompany the application clearly
indicating the manner in which the branch manager is compensated (W-2,
1099, commission, salaried etc.). Also, explain the respective branch
manager commissions are calculated and whether the individual has the
authority to hire and/or fire employees.
N/A
ADDITION, MODIFICATION OR DELETION OF OTHER TRADE
NAME(S).
The Department of Financial Services does not approve assumed names
on a branch basis. All such request will be denied
NOT
FILED IN NMLS
ATTACHED
CHANGE IN BRANCH MANAGER
APPLICABLE
N/A
CHANGE OF BRANCH MANAGER. An ACN is not required for a change
of the branch manager. However, all such changes must be communicated
to the New York State Department of Financial Services within 10 days of
such change.
An Individual Form MU4 must be completed for each branch manager. The
Updated: 06/24/2013
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