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#2231557 - 02/24/20 08:10 PM 3 NYCRR 419 -Did not report in past thought exempt
Anonymous
Unregistered

NYSDFS adopted a final regulation in December 2019 - 3 NYCRR 419. Based on the original version in 2009, we thought our exemption applied even to the reporting aspects (419.8 and 419.9). (Mortgage Loan Servicing)

Specifically 419.9 - Books and records and annual reports -

Any information or direction for a NYS chartered bank (exempted from registering as a mortgage loan servicing entity) on where to obtain the format for the Quarterly Financial Report and Net Worth Certification?

The items listed on the below NYSDFS web site are have a worksheet only and appears to be for a Mortgage Banker entity.

NYSDFS web site

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#2231575 - 02/24/20 10:21 PM Re: 3 NYCRR 419 -Did not report in past thought exempt Anonymous
TomS Offline
Gold Star
Joined: Jan 2004
Posts: 315
USA
I suggest contacting the NYSDFS directly with your question.
_________________________
CRCM, CAFP, DAD

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#2231653 - 02/25/20 07:08 PM Re: 3 NYCRR 419 -Did not report in past thought exempt Anonymous
Anonymous
Unregistered

Thank-you for the response, but was trying to avoid contacting DFS.

Would like to know how other NYS chartered banks handle this item and what format they submit.

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