Chapter 7 Mortgage Brokerage Flashcards
1
Q
What does NYSDFS stand for?
A
NYS Department Of Financial Services
2
Q
What does NYSDFS do?
A
They register and license all company’s and individual who conduct mortgages related services in NY.
3
Q
What is a Mortgage Broker?
A
A sole proprietor or company registered by the NYSDFS that is in business of offering,soliciting, processing or negotiating mortgage loans for one to four family owner operated residential property’s in NYS.
