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  • 30 Jan 2019 6:30 PM | Edith Tella (Administrator)

    All regulated entities and licensed persons of the New York State Department of Financial Services (DFS) are required to file various notices to the Superintendent.

    • January 2019 Covered Entities Must File Notices of Exemption
      • Exemptions filed in 2017 and 2018 have expired. Any DFS regulated entity or licensed person that is currently entitled to an exemption must file an Initial Notice of Exemption prior to the February 15, 2019 due date for the annual Certification of Compliance.
    • February 15, 2019 Compliance Certification Filing Deadline
      • Regulated entities and licensed persons must file the Certification of Compliance for calendar year 2018 no later than February 15, 2019.

    Click Here for More Details

  • 16 Jan 2019 3:13 PM | Edith Tella (Administrator)

    The New York State Department of Financial Services is issuing this guidance to all entities chartered, licensed, or regulated by the Department. This guidance applies to all such regulated institutions regardless of industry, size, or number of employees.

    CLICK HERE to access full content of DFS Letter

  • 15 Jul 2018 10:43 PM | Edith Tella (Administrator)

    NAMB's letter to The Honorable J. Michael Mulvane, Acting Director
    Bureau of Consumer Financial Protection

    Read Context of Full Letter Click Here

  • 22 May 2018 7:30 PM | Edith Tella (Administrator)

    The New York Association of Mortgage Brokers (NYAMB) has announced the creation of the NYAMB Compliance Line to provide its members who have questions or concerns regarding residential mortgage compliance matters with an experienced, centralized source of information. Read full article

  • 22 May 2018 7:29 PM | Edith Tella (Administrator)

    S. 2155, the  Economic Growth, Regulatory Relief and Consumer Protection Act  just passed the House.  This bill passed the senate back in March of this year and was sent back to the House for approval and now sits on President Trump's desk for approval. The bill rolls back reforms from the 2010 Dodd-Frank Act.

  • 16 Apr 2018 7:26 PM | Edith Tella (Administrator)

    MCLEAN, Va., April 26, 2018 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) announced today HomeOne mortgage, a new conventional (non-FHA) 3% down payment option for qualified first-time homebuyers. HomeOne mortgage broadly serves borrowers without geographic or income restrictions and complements the company’s Home Possible® mortgage products for low-to-moderate income audiences. HomeOne will be available starting July 29, 2018. Read full article

  • 14 Mar 2018 7:30 PM | Edith Tella (Administrator)
    Bill passes 67-31 March 14, 2018 source: Caroline Basile, HousingWire

    The Senate spent the first part of this week working through the bill sorting through the more than 100 proposed amendments. While the final vote was originally expected last week, it was pushed back to this week in order to consider the amendments. The bill, which aims to ease regulations on small banks, was sponsored by Banking Committee Chairman Mike Crapo, R-Idaho, with nearly 20 bipartisan co-sponsors, and was introduced in the Committee on Banking, Housing and Urban Affairs.

    Read full article 

  • 12 Mar 2018 11:58 AM | Edith Tella (Administrator)

    Unable to agree on more than 100 amendments
    March 12, 2018 Author: Kelsey Ramírez

    Click Here for Full Article

  • 24 Jan 2018 5:35 PM | Edith Tella (Administrator)

    Press Release: 1/22/18

    Financial Services Superintendent Maria T. Vullo today reminded all regulated entities and licensed persons covered by the Department of Financial Services’s (DFS) landmark cybersecurity regulation that the first certification of compliance requiring a statement to the Superintendent covering the prior calendar year must be filed electronically via the DFS cybersecurity portal on or prior to February 15, 2018. Superintendent Vullo also took the opportunity to announce that DFS will now be incorporating cybersecurity in all examinations, including adding questions related to cybersecurity to “first day letters,” which are notices the Department issues to commence its examinations of financial services companies, including examinations of banks and insurance companies for safety and soundness and market conduct.

    Read Full Press Release CLICK HERE

  • 11 Jan 2018 9:30 AM | Edith Tella (Administrator)

    On Dec. 27, 2017, the Bureau announced the asset-size exemption thresholds for depository institutions under Regulation C and for creditors under the escrow requirements and small-creditor portfolio and balloon-payment qualified mortgage requirements, and the prohibition against balloon-payment high-cost mortgages under Regulation Z. These thresholds became effective Jan. 1, 2018.

    You can access the notices at:

    Regulation C:

    Regulation Z:

    CFPB Regulatory Implementation Team
    Consumer Financial Protection Bureau

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