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Mortgage licensing / New York

New York Exempt Mortgage Banker License-MH

company licence · NMLS NYEXEMPTBANKERMH_C · DFS

Requirements (14)

  1. Step 1

    Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Fictitious Name”, “Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). Companies using “fictitious” names or forced D/B/As must select “forced” in the NMLS filing. Note: Entities seeking to conduct business as an Exempt Mortgage Banker - MH should not include New York as a jurisdiction for any trade name that is similar to the name of an existing active corporate entity, licensed mortgage banker, registered mortgage broker, banking institution or insurance company, regardless of whether such company is licensed to conduct business in New York. If operating under an “Other Trade Name” - Corporations, limited liability companies and limited partnerships must upload a file-stamped copy of the Certificate of Assumed Name from the Secretary of State of New York, the certificate must reflect all counties in which the entity intends to solicit business. Sole proprietors, general partnerships and limited liability partnerships must upload a copy of the filing receipt from the county clerk’s office in each country where the business will operate.

    Submitted via: NMLS Upload in NMLS: under the Document Type Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1). This document should be named [State-License Type] Trade Name – Assumed Name.

  2. Step 2

    Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1). Note: The resident/registered agent is the entity that will receive service of legal process on behalf of you company in the state identified.

    Submitted via: NMLS

  3. Step 3

    Non-Primary Contact Employees: NY-DFS requires that an individual(s) be identified as a Non-Primary Contact for the following areas. These contacts must be listed in the Contact Employees section of the Company Form (MU1). 1. Accounting 2. Exam Billing 3. Licensing 4. Consumer Complaint (Public) 5. Exam Delivery 6. Litigation 7. Consumer Complaint (Regulator) 8. Legal 9. Pre-Exam Contact

    Submitted via: NMLS

  4. Step 4

    Website Domain: Provide any domain addresses (i.e., website) used by the organization. This information should be listed in the Web Addresses section of the Company Form (MU1).

    Submitted via: NMLS

  5. Step 5

    Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Submit copies of the original formation documents and all subsequent amendments, thereto including a list of any name changes. Sole Proprietor: • If you use a business name that is different from your legal name, you must upload a copy of the Doing Business as Certificate from the country clerk’s office for each county where you intend to conduct business. The Certificate(s) must have the country clerk’s receipt affixed to the document. This document must also be mailed to the Department along with the Original receipt. General Partnership: • Partnership Agreement (including all amendments). Limited Liability Partnership: • Certificate of Limited Liability Partnership; and • Partnership Agreement (including all amendments). Limited Partnership: • Certificate of Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Limited Partnership: • Certificate of Limited Liability Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); • IRS Form 2553 or IRS Form 8832 if S-corp treatment elected; and • LLC resolution if authority not in operating agreement. Corporation: • Articles of Incorporation (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; • IRS Form 2553 if S-corp treatment elected; and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable. Trust (Statutory) • Certificate of Trust; and • Governing instrument (all amendments). Note: All companies must submit the following applicable documents: • Copy of the Filing Receipt • Certified copy of Application for Authority from the New York Secretary of State; • Certified Certificate of Fictitious Name from the New York Secretary of State if you filed for a fictitious name.

    Submitted via: Upload in NMLS: under Formation Document” in the Document Uploads section of the Company Form (MU1). This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)]. Sole Proprietors - Document and Original Receipt must be mailed to the Department. MAIL TO: New York State Department of Financial Services, Exempt Application Processing Unit, One State Street, New York, NY 10004

  6. Step 6

    Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). The management chart must identify operating management structure, reporting lines of executive officers and operating committees, compliance reporting and internal audit structure. If the applicant is owned by another entity or entities or has subsidiaries – Management charts must clearly delineate interlocking management. Note: If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart. However, if the existing uploaded management chart is more than six (6) months old and changes has occurred in executive officers, operating committees, compliance or audit that is not reflected on the chart the applicant must provide an updated management chart.

    Submitted via: Upload in NMLS: under Management Chart in the Document Uploads section of the Company Form (MU1). This document should be named [Company Legal Name] Management Chart.

  7. Step 7

    Organizational Chart/Description: Submit a chart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%) • Indirect Owners (total indirect ownership percentage must equate to 100%) • Subsidiaries and Affiliates of the applicant Note: If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded. A company should only upload a single organizational chart.

    Submitted via: Upload in NMLS: under Organizational Chart/Description in the Document Uploads section of the Company Form (MU1). This document should be named [Company Legal Name] Organizational Chart – Description.

  8. Step 8

    Resume: Provide a resume for the individual designated to serve as the person in charge of the applicant’s chattel loan origination activities and oversight of the applicant’s New York licensed mortgage loan originators. The resume must include the individual’s entire work history for the past 10 years. A detail explanation must be provided for all gaps in employment exceeding three months

    Submitted via: Mail To: The New York State Department of Financial Services, Mortgage Banking - Exempt Application Processing Unit, One State Street, New York, NY 10004

  9. Step 9

    Certificate of Authority/Good Standing Certificate: Mail an original Certificate of Good Standing issued by the New York Secretary of State and also from your home state, if you are a incorporated outside the state of New York. Note: If the company was incorporated or filed its authority to conduct business in New York less than six (6) months from the date of application the Good Standing Certificates are not required.

    Submitted via: Mail to: New York State Department of Financial Services, Mortgage Banking - Exempt Application Processing Unit, One State Street, New York, NY 10004

  10. Step 10

    Cover Letter: All Applicants must provide an original signature cover letter signed by an authorized executive officer of the company outlining the company’s manufactured homes lending activity. Also address whether the company owns or operates a mobile home park and the reason the company considers itself exempt from the licensing requirements of Article 9, 11-B and 12-D of the New York Banking Law.

    Submitted via: Mail to: New York State Department of Financial Services, Mortgage Banking - Exempt Applications Processing Unit, One State Street, New York, NY 10004

  11. Step 11

    Letter of Undertaking: All Applicants must submit a letter of undertaking signed by an authorized executive officer or director. The letter must contain the following affirmation: Books and records related to transactions undertaken by licensed mortgage loan originators sponsored by the entity will be kept for a minimum of three years in accordance with section 597 of the New York Banking Law (“NYBL”) and made available for inspection by the Superintendent in accordance with Section 596 of the NYBL.

    Submitted via: Mail to: New York State Department of Financial Services, Exempt Application Processing Unit, One State Street, New York, NY 10004

  12. Step 12

    Word Approval Authorization Certificate: Submit a copy of the authorization certificate received from the Department and submitted to the New York Department of State. Entities that wish to engage in business involving residential mortgage lending on one-to-four family residential properties must secure the prior approval of the Superintendent to use the following words or any derivative thereof in Business Names, Assumed (d/b/a) or Fictitious Names. • Bank • Loan • Mortgage • Finance • Investment All applicants must demonstrate compliance with the statutory requirement. Click here to access the Word Approval Instruction for Mortgage Companies

    Submitted via: Mail to: New York State Department of Financial Services, Mortgage Banking - Exempt Application Processing Unit, One State Street, New York, NY 10004

  13. Step 13

    Contact: For additional information, please contact: MLS@dfs.ny.gov

  14. Step 14

    Qualifying Individual: Each applicant must designate a person or persons to serve as the Qualifying Individual (“Qualifier”) in charge of the Chattel loan origination activities, oversight of licensed mortgage loan originators and be actively engaged in the operations of the applicant. This individual must be listed in the Qualifying Individual section of Company Form (MU1).

    Submitted via: NMLS

General information

Who Is Required to Have This License? Companies who makes “Chattel-Only” loans as a direct lender on Manufactured Homes and employ individuals required to be licensed under Article 12-E of the New York Banking Law. This license is not available to non-profit organizations. Non-profit organizations, including CDFI's must apply for the Exempt Mortgage Banker License-NP This document includes instructions on how to complete the requirements for licensing with the New York State Department of Financial Services (“Department”) as an Exempt Mortgage Banker for Manufactured Home lenders. Applicants must also complete and submit a branch office application Branch Form (MU3) for each additional branch office requested as part of this application. The Department will process no more than two branch applications as part of the initial Exempt Mortgage Banker License-MH application. Mortgage Loan Originators employed by the Applicant should not apply for an MLO license unless the applicant has been approved by the Department as an Exempt Mortgage Banker. Incomplete Application If an application is determined to be incomplete, the Department will send the applicant a written notice identifying the items and matters that must be addressed for the Department to continue the application review process. If a complete response fully addressing all such items and matters to the satisfaction of the Department is not received within 30 days of the date of such notice, the application will be withdrawn. Note: Partial submission of information or documents in response to the Department’s notice deeming the application incomplete will not result in an extension of the 30 days withdrawal period. Any applicant seeking an approval of the Exempt Mortgage Banker -MH License status following the withdrawal of an application must submit a new application that must include all required information, documents, and fees. If the required jurisdiction (state) specific documents are not received by the Department within 10 days of the electronic filing through the NMLS the application will be withdrawn. Approval or Denial After the application has been processed, the applicant will receive written notification of the approval or denial of the application. Submitting a Complete Application The checklist below provides instructions and requirements for those documents that may be uploaded to the NMLS, as well as those documents for which originals must also be mailed to the Department. Agency requirements in the Requirements Completed in NMLS section or the Requirements/Documents Uploaded in NMLS section must be completed and/or uploaded in the NMLS. Note this information will not be viewable to the Department until the application has been submitted through NMLS. Agency specific requirements in the Requirements Submitted Outside of NMLS section must be received by the Department within five (5) business days of the electronic submission of your application through the NMLS. If originals are required, copies may be submitted electronically to help expedite the Department’s review, but the originals MUST be mailed in hard copy to the following address. Please note that an applicant’s NMLS Identification Number must be included on every document submitted to the Department. Activities Authorized Under This License This license authorizes the following activities… • Only for employees of the company to function as licensed Mortgage Loan Originators on Chattel-Only loans made on Manufactured Homes. Pre-Requisites for License Applications • None New York State Department of Financial Services does not issue paper licenses for this license type.

Other New York mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated October 8, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.

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