February 2, 2004
To the Licensed Mortgage Banker addressed:
Due to the recent changes and additional language in Part 410 the Department has had to revise the bond form and deposit agreement. The enclosed bond form and deposit agreement reflect the current changes. Please use this form for obtaining the increased surety bond which must be in place by July 1, 2004.
Once you obtain the new surety bond please submit it to:
New York State Banking Department
Mortgage Banking Division
Special Projects Unit
1 State Street
New York, NY 10004
If you have any questions please contact Senior Bank Examiner Mian Ahmed at 212 709-5568 or Supervising Bank Examiner Timothy Pang at 212 709-5542.
Very truly yours,
Deputy Superintendent of Banks