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Why do MLOs have to be licensed by the New York State Banking Department?

April 26, 2017Banking Department licensed mlos new york State

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Why do MLOs have to be licensed by the New York State Banking Department?

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Mortgage Loan Originator Licensing Small Business Regulation Guide Updated September 11, 2009 This guide is intended to assist small businesses and individuals in complying with the regulatory requirements of revised Part 420 that the Department intends to adopt to conform Part 420 to changes in Article 12-e of the Banking Law which became effective on July 11, 2009. It does not amend or change the requirements of revised Part 420. The detailed Q&A below has been segmented into nine main categories.