N.Y. Comp. Codes R. & Regs. tit. 3 § 341.1

Current through Register Vol. 46, No. 49, December 4, 2024

Section 341.1 - Application and definitions

(a) This Part shall apply to all banking organizations, as defined in section 2.11 of the New York Banking Law, which, in the ordinary course of business, originate loans to be secured by a mortgage or other lien upon residential real property located in the State of New York, including a leasehold estate, and cooperative apartment loans subject to the provisions of section 103.5, 235.8 -a or 380.2-a of the New York Banking Law. This Part shall also apply to all inquiries and applications to such banking organizations regarding such loans shich are being granted under the current lending policy of such banking organizations.

(b) Application form. An application form shall be a printed or otherwise reproduced standard form. Nothing herein shall prohibit any banking organization from:

(1) using any application form, including any form required or permitted by applicable provisions of Federal of State laws or regulations; or

(2) making informational requests of an applicant in addition to such information as is provided in the application form.

(c) Branch. The term branch shall include a station of a credit union, but shall not include electronic facilities authorized pursuant to section 105-a, 240-a or 396-a of the Banking Law, electronic facilities for which no authorization is necessary or public accommodation offices, authorized pursuant to article IV-A of the Banking Law.

(d) Substantially completed application form means an application form which has been substantially completed and which complies with all applicable provisions of Federal and State laws and regulations; e.g., Federal Reserve Board Regulation B and New York Supervisory Procedure G-107.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 341.1