The superintendent approves a New York mortgage broker application in 2026. How does the superintendent document the approved registration?
Correct Answer
A) The applicant goes on a roll and gets a certificate in duplicate
The superintendent shall register the applicant as a mortgage broker on a roll maintained for that purpose and issue a certificate attesting to the registration in duplicate, transmitting one copy to the applicant and filing another with the department. Other choices: the article describes a roll and a duplicate certificate; and the registration runs until surrendered, revoked or suspended rather than on an annual renewal. Source: N.Y. Banking Law § 592-a(1)
Why This Is the Correct Answer
The superintendent shall register the applicant as a mortgage broker on a roll maintained for that purpose and issue a certificate attesting to the registration in duplicate, transmitting one copy to the applicant and filing another with the department. Other choices: the article describes a roll and a duplicate certificate; and the registration runs until surrendered, revoked or suspended rather than on an annual renewal. Source: N.Y. Banking Law § 592-a(1)
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