2014 New York Laws
BNK - Banking
Article 12-E - (599-A - 599-R) LICENSED MORTGAGE LOAN ORIGINATORS
599-Q - Confidentiality.

NY Banking L § 599-Q (2014) What's This?

599-q. Confidentiality. In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing, information provided to the superintendent by an MLO shall be subject to the following:

1. Except as otherwise provided in public law 110-289, section 1512, the requirements under any federal law, the freedom of information law ("FOIL") or other law of this state regarding the privacy or confidentiality of any information or material provided to the NMLSR, and any privilege arising under federal or state law (including the rules of any federal or state court) with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the NMLSR. Such information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege of the loss of confidentiality protections provided by federal law, FOIL or this chapter.

2. For these purposes, the superintendent is authorized to enter into agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators or other associations representing governmental agencies as established by rule, regulation or order of the superintendent.


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