3 NYCRR Part 38 (Mortgage Disclosure & Advertising)
3 NYCRR Part 38
Part 38 implements Banking Law Article 12-D by regulating mortgage advertising (including the required 'Licensed Mortgage Banker-NYS Banking Department' and 'Registered Mortgage Broker-NYS Banking Department' legends), the disclosures and procedures for loan applications and commitments (including rate lock-in/guaranteed-rate agreements), fee disclosure, and prohibited or improper conduct by mortgage bankers and brokers. It requires that any application or processing fee be reasonably related to the services performed, and bars taking an application, application fee, credit report fee, or property appraisal fee before the required disclosures are made.
Who must comply
Other NYS DFS regulations
3 NYCRR Part 79 (Reverse Mortgages)
3 NYCRR Part 79
3 NYCRR Part 82 (Alternative Mortgage Instruments)
3 NYCRR Part 82
Banking Law § 6-l (High-Cost Home Loans)
N.Y. Banking Law § 6-l
Banking Law § 6-m (Subprime Home Loans)
N.Y. Banking Law § 6-m
Banking Law Art. 12-D (Mortgage Bankers & Brokers)
N.Y. Banking Law Article 12-D (§§ 589–599)
RPAPL § 1304 (90-Day Pre-Foreclosure Notice)
N.Y. Real Property Actions and Proceedings Law § 1304
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