April 3, 2023

Dear Licensee/Registrant:

Pursuant to §597 of the New York Banking Law, your organization is required to complete a Volume of Operations Report (VOOR) for calendar year 2022. Registered mortgage brokers (Registrants) and licensed mortgage bankers (Licensees) are required to complete and file a VOOR regardless of whether such Licensee or Registrant closed loans or took applications for properties located in New York State. The completed VOOR must be submitted by an owner or an authorized principal officer no later than June 15, 2023.

The 2022 VOOR will be accessible from 9:00am EST, Wednesday, April 5, 2023 through 11:59pm EST, Thursday, June 15, 2023 via DFS Portal.

Registrants and Licensees that do not have a DFS Portal account, must “Create an Account” through the Department’s website by selecting DFS Portal at the top right side of the Department’s website (www.dfs.ny.gov). Once you are on the DFS Portal, select “Create an Account.” Additional instructions are available on the Volume of Operations Report (VOOR) page of the DFS website.

If you have any questions, you may contact the Department at (212) 709-3844 or (212) 709-3868.

Regulated entities that filed a 2021 VOOR can access the 2022 VOOR Portal with their existing username and password, along with the computer-generated pin received as part of the Multi-Factor Authentication (“MFA”) process. The Department employs MFA as a standard part of the VOOR user authentication process. Once you log into the DFS Portal to access the VOOR, a computer-generated PIN will automatically be sent to your email. This PIN must be entered as part of DFS’s Portal login to proceed to the VOOR filing system. Please note, the computer-generated PIN is time sensitive and expires one hour after it is issued. Once the PIN expires, you will be required to request a new PIN via the same system. The MFA process will be required every time you login to access the VOOR.

Kindly note, all regulated entities required to submit a VOOR pursuant to §597 must designate a VOOR Administrator to be responsible for creating the company's VOOR Administrator access account, designating sub-users, and submitting the completed report. The VOOR Administrator will also function as the primary VOOR contact with the Department. Designated Administrators must have the delegated authority to complete the VOOR affidavit and addressing compliance and VOOR related supervisory issues with the Department.

Note:  Certain sections of the 2022 VOOR were revised and now require licensees and registrants to provide additional information.  For Brokers these are sections B, H, K and L and for Bankers sections B, H, J, M and O were modified.

Subsequent to your initial submission of the online VOOR, you will be allowed one opportunity to amend the report. It is important that you answer all financial questions on the VOOR. Inconsistent and incomplete reporting, late submissions, and failure to file a timely VOOR could result in fines and/or other penalties.

If you do not have access to a computer and need to complete a manual VOOR, please call (212) 709-3535 on or after April 5, 2023, to request forms and instructions. Please allow at least three weeks for the forms to arrive. The deadline of June 15, 2023, applies to both online and manual filing submissions, therefore request for manual VOOR should be submitted with sufficient time to meet the filing deadline. Failure to file the report by June 15, 2023, will result in fines and/or other regulatory action.

This is an official communication and should be treated accordingly. This letter and all other Department correspondence should be kept in a separate file to be maintained by the licensee or registrant, at their office, available for our review.

Very truly yours,

Vincent C. Anyamene
Assistant Deputy Superintendent