Statute · New York Banking Law
N.Y. Banking Law § 599-a — Legislative purpose
N.Y. Banking Law § 599-a
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 599-a. Legislative purpose. The legislature deems it necessary, in order to enhance consumer protection, reduce fraud and ensure the public welfare, that mortgage loan originators who originate mortgage loans on residential real property be subject to regulation by the superintendent and that…
Citator
N.Y. Banking Law § 599-a — Legislative purpose is in force in the current edition of the Code, and nothing recorded condemns it.
§ 599-a. Legislative purpose. The legislature deems it necessary, in order to enhance consumer protection, reduce fraud and ensure the public welfare, that mortgage loan originators who originate mortgage loans on residential real property be subject to regulation by the superintendent and that such regulation be consistent with Title V of The Housing and Economic Recovery Act of 2008, also known as the S.A.F.E. Mortgage Licensing Act, as it may be amended from time to time, and regulations thereunder or interpretations thereof, that may be adopted from time to time by the Secretary of the U.S. Department of Housing and Urban Development.