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New Director, Executive Officer or Qualifier

The Department of Financial Services accepts applications to add new directors, executive officers and qualifying individuals of regulated mortgage brokers, mortgage bankers and mortgage loan servicers through the Nationwide Mortgage Licensing System (NMLS. All applicants seeking to add a new director, executive officer or qualifier must submit an Amendment through the online application process.

Note: Your company must have a unique NMLS identification number, a User ID and Password to access to NMLS in order to submit Amendments through the online system.

General Instructions

Jurisdiction Specific Requirements

Jurisdiction-specific requirements as identified below must be submitted within five business days of the submission of your application through NMLS to the State of New York Department of Financial Services at the following address:

State of New York Department of Financial Services
One State Street
New York, NY 10004-1511
Attention: Mortgage Banking

  1. NOTARIZED AFFIDAVIT OF RELEVANT BUSINESS EXPERIENCE (MORTGAGE BROKERS).  A change of Qualifying individual requires the submission of a Notarized Affidavit of Relevant Business Experience.  The qualifying individual must actively participate in the New York operations of the mortgage broker and have two years of verifiable experience in underwriting or credit analysis of residential mortgage loans or similar lending and credit evaluation experience. Refer to Part 410 of the Superintendent Regulations for additional information.
  1. BACKGROUND REPORTS AND BACKGROUND REPORT CERTIFICATION (MORTGAGE BANKERS & SERVICERS).  A change in any of the three senior most officers, directors or qualifying individual requires the submission of an investigative background report. Background investigation reports must be provided directly to the Department of Financial Services by the private investigation company. 
  1. FINGERPRINTS. For each newly appointed executive officer, director and/or qualifier.
  1. LITIGATION AFFIDAVIT. Provide for each newly appointed executive officer, director, and/or qualifier.
  1. PERSONAL FINANCIAL STATEMENT(S). For each newly appointed executive officer, director and qualifier submit a personal financial statement for the most recent quarter and year-end.
  1. PERSONAL QUESTIONNAIREProvide a personal questionnaire for each newly appointed executive officer, director and qualifier.
  1. AFFIRMATION. Provide an affirmation stating that the applicant will immediately notify the Superintendent of any changes to the information furnished in the application and that the designated officer has reviewed the application and certifies that the application does not contain untrue statement or omission of material facts.
  1. CREDIT REPORT (MORTGAGE BROKERS). Each executive officer, director, or qualifier must submit a credit report dated not more than 30 days prior to the filing of the application through NMLS.

  2. RESUME (MORTGAGE BANKERS & SERVICERS).   A resume must be submitted for each individual designated to function as the qualifying individual of a regulated lender.

WHO TO CONTACT

If you require assistance in using the NMLS database or logging into the system, please contact the NMLS Call Center at (240) 386-4444

For New York State Jurisdiction specific requirements contact the Department via email at Mortgage.Banker@dfs.ny.gov (mortgage banker issues),  Mortgage.Broker@dfs.ny.gov (mortgage broker issues) and MLS@dfs.ny.gov (mortgage loan servicer issues).

FAILURE TO INCLUDE THE ABOVE LISTED ITEMS WITH YOUR ORIGINAL NOTIFICATION WILL DELAY PROCESSING.  INCOMPLETE APPLICATIONS WILL BE RETURNED

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