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  • 25 Jan 2017 8:46 PM | Edith Tella (Administrator)
    Effective immediately, HUD has suspended indefinitely the previously announced rate reduction on annual FHA Mortgage Insurance Premiums (MIP).

    For more information, please see HUD Mortgagee Letter 2017-17

  • 31 Dec 2016 2:36 PM | Edith Tella (Administrator)

     I, Maria T. Vullo, Superintendent of Financial Services, pursuant to the authority granted by sections 102, 201, 202, 301, 302 and 408 of the Financial Services Law, do hereby promulgate Part 500 of Title 23 of the Official Compilation of Codes, Rules and Regulations of the State of New York, to take effect upon publication in the State Register, to read as follows:  
    Section 500.00 Introduction.  
     The New York State Department of Financial Services (“DFS”) has been closely monitoring the evergrowing threat posed to information and financial systems by nation-states, terrorist organizations and independent criminal actors.  Recently, cybercriminals have sought to exploit technological vulnerabilities to gain access to sensitive electronic data.  Cybercriminals can cause significant financial losses for DFS regulated entities as well as for New York consumers whose private information may be revealed and/or stolen for illicit purposes.  The financial services industry is a significant target of cybersecurity threats.  DFS appreciates that many firms have proactively increased their cybersecurity programs with great success.  

    Click here to read more

  • 06 Jun 2016 11:25 PM | Edith Tella (Administrator)

    HR 2121 Up for a Vote on May 23, 2016 - Ask Your Elected House Member to Vote No! Transitional Licensing Bills Harms Consumers - Tweet Your Elected Officials Now! NAMB – The Association of Mortgage Professionals has expressed concerns regarding H.R. 2121, The Transitional Licensing Act of 2015. This bill will be considered on Monday, May 23rd under suspension calender and requires a two-thirds majority vote to pass the House of Representatives.

    More info click here

  • 06 Jun 2016 10:59 PM | Edith Tella (Administrator)

    Federal - HR 3393

    A bill to amend the Truth in Lending Act to clarify that the points and fees in connection with a mortgage loan do not include certain compensation amounts already taken into account in setting the interest rate on such loan, and for other purposes.

    We Support

  • 16 Jul 2015 4:31 PM | Edith Tella (Administrator)

    NYAMB has been working with the NYSDFS to get a reference guide published by the Department. We are proud of the ongoing relationship and work we do with the department on behalf of our members and are pleased to announce that the Department has officially released these comprehensive guidebooks that will help companies & individuals to not only apply for a license, but to maintain a license.  These guidebooks provide an overview of the regulatory requirements and boils them down into comprehensible directions on what information to file with DFS, at what times, and what licensees and registrants are and are not permitted to do as a regulated entity.

    Please be sure to watch for any additional e-notices from NYAMB for updates to these books that may become available as a result of any new or revised mortgage-related federal and state laws and regulations, and Department policies and procedures that may come into effect.

    Mortgage Broker Guidebook (PDF Download)

  • 30 Jun 2015 12:39 AM | Edith Tella (Administrator)

    Jun 24 2015

    Proposal Open for Public Comment Until July 7th

    WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a proposed amendment to the Know Before You Owe mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. The rule, also called the TILA-RESPA Integrated Disclosure rule, requires.....

    read more click here 

  • 17 Jun 2015 8:30 PM | Edith Tella (Administrator)

    Statement by CFPB Director Richard Cordray on Know Before You Owe Mortgage Disclosure Rule

    WASHINGTON, D.C. - Today, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure rule:

    "The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 1, 2015..

    read full statement click here 

  • 07 Jan 2015 5:14 PM | Edith Tella (Administrator)

    Author: Tory Barringer January 7, 2015

    President Barack Obama will announce this week a reduction to Federal Housing Administration (FHA) mortgage insurance premiums, according to media reports.

    Bloomberg reported Wednesday that FHA will cut  CLICK HERE to access full article

  • 05 Jan 2015 4:00 PM | Edith Tella (Administrator)

    January 05, 201510:58 AM ET


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