2010 New York Code
BNK - Banking
Article 12-D - (589 - 599) LICENSED MORTGAGE BANKERS
597 - Books and records; reports and electronic filing.

§ 597.   Books  and  records;  reports  and  electronic  filing.  Each
  licensee, servicer, registrant and exempt organization  shall  keep  and
  use  in its business such books, accounts and records as will enable the
  superintendent to determine whether such licensee, servicer,  registrant
  or  exempt organization is complying with the provisions of this article
  and with the rules and regulations lawfully made by  the  superintendent
  and  the  banking board. Every licensee, servicer, registrant and exempt
  organization shall preserve such books, accounts, and  records,  for  at
  least  three years; provided, however, that preservation by photographic
  reproduction thereof or  records  in  photographic  form,  including  an
  optical  disk  storage  system and the use of electronic data processing
  equipment that provides comparable records to those  otherwise  required
  and  which  are  available for examination upon request shall constitute
  compliance with the requirements of this section.
    Each licensee and registrant shall annually, on or before a date to be
  determined by the superintendent, file a report with the  superintendent
  giving such information as the superintendent may require concerning the
  business  and  operations  during  the  preceding  calendar year of such
  licensee or registrant under authority  of  this  article.  Such  report
  shall  be  subscribed and affirmed as true by the licensee or registrant
  under the penalties of perjury and shall be in the  form  prescribed  by
  the  superintendent.  In  addition to annual reports, the superintendent
  may require such additional regular or special reports as he or she  may
  deem  necessary  to  the proper supervision of licensees and registrants
  under this article.  Such  additional  reports  shall  be  in  the  form
  prescribed by the superintendent and shall be subscribed and affirmed as
  true under the penalties of perjury.
    Notwithstanding article three of the state technology law or any other
  law to the contrary, the superintendent may require that any application
  for,  or renewal of, any license or registration or any other submission
  or approval as may be required by the superintendent be made or executed
  by electronic means if he or  she  deems  it  necessary  to  ensure  the
  efficient administration of this article.
    The  superintendent  may  require  servicers to file annual reports or
  other regular or special reports,  including  reports  with  respect  to
  mortgage  delinquencies  and  foreclosures. Such reports shall be in the
  form prescribed by  the  superintendent  and  shall  be  subscribed  and
  affirmed as true under the penalties of perjury.