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Banking Division
Weekly Bulletin

October 4, 2013

SECTION I

This section records the receipt of applications and notices to the Banking Division of the Department of Financial Services.   Applications and notices received by Foreign and Wholesale Banks, Community and Regional Banks and Licensed Financial Services are listed in order of date of receipt; applications and notices received by Mortgage Banking are listed at the end of Section I by type of application or notice.  THE WEEKLY BULLETIN CONSTITUTES THE ONLY WRITTEN NOTIFICATION OF THESE SUBMISSIONS THAT WILL BE ISSUED BY THE DEPARTMENT.  Any comment on, or objection to, any item contained in this Weekly Bulletin should be presented to the Department within 10 calendar days of the date of this bulletin, unless a different time period is specified in the item.  More specifically, such comments or objections, including any that concern CRA-related applications, should be either  (a) delivered by mail or in person to Office of the General Counsel, New York State Department of Financial Services, One State Street, New York, New York 10004-1417 before the stated deadline or (b) transmitted by e-mail to Comments@dfs.ny.gov. This Weekly Bulletin may also be viewed online at the Department’s Web site at:  http://www.dfs.ny.gov

For information on CRA applications and notices, please select this link.

SECTION II

This section records actions taken by the Superintendent of Financial Services, and other information concerning the activities of the Banking Division of the Department of Financial Services.  Actions relating to institutions supervised by Foreign and Wholesale Banks, Community and Regional Banks and Licensed Financial Services are listed in order of date of action; actions relating to institutions supervised by Mortgage Banking are listed at the end of Section II by type of action taken.

GENERAL INFORMATION

Each item in the Weekly Bulletin is identified by a two-letter code indicating the type of institution and a three-letter code indicating the unit of the Department which has supervisory responsibility for the institution.  The following is a list of the codes and their meanings:

Institution Codes

BK

Bank

MB

Mortgage Banker

BP

Budget Planner

BR

Mortgage Broker

CC

Check Casher

MLS

Mortgage Servicer

CU

Credit Union

PF

Premium Finance Agency

FA

Foreign Agency

PB

Private Banker

FB

Foreign Branch

SD

Safe Deposit Company

FR

Foreign Representative Office

SF

Sales Finance Agency

HC

Holding Company

SL

Savings and Loan Association

IC

Investment Company

SB

Savings Bank

LL

Licensed Lender

TM

Transmitter of Money

MK

Merchant Bank

TR

Trust Company

MI

Miscellaneous

 

 

Regulatory Unit Codes

CRB

Community and Regional Banks

CSD

Consumer Services

FWB

Foreign and Wholesale Banks

LFS

Licensed Financial Services

MBD

Mortgage Banking


SECTION I

September 20, 2013 (SB-CRB)
NEW YORK COMMUNITY BANK
136-65 Roosevelt Avenue, Flushing, NY 11354

Application dated September 18, 2013, pursuant to Section 96-d of the Banking Law, for the designation of a portion of Brentwood, Town of Islip, Suffolk County, New York, as a banking development district, received.  The co-applicant is the Town of Islip.


October 3, 2013 (FB-FWB)
STATE BANK OF INDIA
Madama Cama Road, Nariman Point, Mumbai 400 021, India

Notice pursuant to Section 605.11 of the Banking Law of the intention to voluntarily liquidate its Jackson Heights branch located at 37-20 74th Street, Jackson Heights, NY 11372, received.


Application to engage in the business of a Mortgage Broker under Article 12-D of the New York State Banking Law received for examination:

September 30, 2013 (BR-MBD)
Applicant(s)
John Whaley
As: Global Home Capital LLC
606 Johnson Avenue, Suite 29, Bohemia, NY 11716 2688


Application to engage in the business of a Mortgage Banker under Article 12-D of the New York State Banking Law received for examination:

September 30, 2013 (MB-MBD)
Applicant(s)
Michael F. Petruccelli
Ralph S. Vitiello
Jeffrey A. Pennington
As: Maverick Funding Corp.
9 Entin Road, Suite 200, Parsippany, NJ 07054 5000


Application to establish a Mortgage Broker's Branch received for examination:

October 02, 2013 (BR-MBD)
Full Service Branch
Lenderlive Network, Inc. d/b/a
LL Network
999 Tech Row, Suite 200, Madison Heights, MI 48071


Application to establish a Mortgage Banker's Branch received for examination:

September 30, 2013 (MB-MBD)
Full Service Branch
Maverick Funding Corp.
300 Centerville Road
The Summit West, Suite 102
Warwick, RI 08286

September 30, 2013 (MB-MBD)
Full Service Branch
Maverick Funding Corp.
1140 Parsippany Boulevard, 2nd Floor, Parsippany, NJ 07054

September 30, 2013 (MB-MBD)
Full Service Branch
Maverick Funding Corp.
66 Painters Mill Road, Suite 202, Owings Mills, MD 21117

October 02, 2013 (MB-MBD)
Full Service Branch
Mortgage Master, Inc.
135 West 50th Street, 18th Floor, New York, NY 10022

October 02, 2013 (MB-MBD)
Full Service Branch
Nationwide Equities Corporation
926 Sunrise Highway, Suite 100, West Babylon, NY 11704

October 02, 2013 (MB-MBD)
Full Service Branch
Meadowbrook Financial Mortgage Bankers Corp.
2901 Long Beach Road, Suite 10, Oceanside, NY 11572


Mortgage Banker License Name Change Received:

October 02, 2013 (MB-MBD)
From: Cardinal Financial Company, LP

To: Cardinal Financial Company, LP
Additional DBA(s)
Sebonic Financial


Application received pursuant to Section 594-b of the New York Banking Law and Part 410 of the Superintendent's Regulations for a control interest:

October 02, 2013 (MB-MBD)
Applicant(s)
Tiptree Operating Company, LLC
To acquire interest in:
Luxury Mortgage Corp.
Four Landmark Square, Suite 300, Stamford, CT 06901 2518


Article 12-E Applications received. Individuals listed may not engage in mortgage loan origination activities prior to the approval of their application for licensing.   They must  also complete all required education, testing and bonding requirements by the dates set forth in Part 420 of the Superintendent’s Regulations which may be found on the Department’s website.

Date of Application

NMLS ID

Name of Applicant

City & State of Residence

April 22, 2013

781695

Brian Stewart

Phoenix

AZ

July 17, 2013

804337

Kamen Shay Christin

Orange

CA

July 26, 2013

1067667

Shannon Geralyn Barr

Rensselaer

NY

August 1, 2013

1020780

Maria T Bentley

Amherst

NY

August 14, 2013

313548

Larry Glen Dicken

Forney

TX

August 15, 2013

1047245

Stephen Michael Modica

Staten Island

NY

August 28, 2013

195849

Frank V Geremia

Staten Island

NY

September 3, 2013

914609

Philip  Lucrezia

Stony Point

NY


SECTION II

September 20, 2013 (FB-FWB)
CANADIAN IMPERIAL BANK OF COMMERCE
Commerce Court West, Toronto, Ontario, Canada M5L 1A2

License, to establish and maintain a branch at 425 Lexington Avenue, Borough of Manhattan, City of New York, in connection with the conversion of agency license to branch license, effective on or after September 20, 2013, issued.

The branch is authorized to open and occupy an additional branch office at 300 Madison Avenue, Borough of Manhattan, City of New York.


September 24, 2013 (SB-CRB)
FIRST CENTRAL SAVINGS BANK
70 Glen Street, Glen Cove, NY 11542

The Superintendent’s approval in principle of the “Certificate of Amendment of the Organization Certificate of First Central Savings Bank under Section 8005 of the Banking Law” was granted.

The amendment provides for an increase in the number of authorized shares of capital stock from 8,250,000 shares to 10,250,000 shares, all with par value of $5.00 each share.


September 25, 2013 (BP-LFS)
CONSUMER CREDIT COUNSELING SERVICE OF GREATER ATLANTA, INC. D/B/A CREDABILITY
270 Peachtree Street NW, Atlanta, Fulton County, Georgia 30303

A license was issued to operate a full service branch at 3100 Interstate North Circle – Suite 300,
Atlanta, Cobb County, GA 30339.


September 25, 2013 (BP-LFS)
GARDEN STATE CONSUMER CREDIT COUNSELING, INC. U/A/N NOVADEBT
225 Willowbrook Road, Freehold, Monmouth County, NJ 07728

A license was issued to operate a budget planner branch office at 1455 Frazee Road, Suite 550 San Diego, San Diego County, CA 92108 .


September 25, 2013 (CC-LFS)
NY COMMUNITY FINANCIAL, LLC
560 Sylvan Avenue, Englewood Cliffs, NJ 07632

License to engage in business as casher of checks at the limited station located at 3400-26 Cannon Place, Bronx, NY 10463 was surrendered.


September 29, 2013 (TR-FWB)
GOLDMAN SACHS BANK USA
200 West Street, New York, NY 10282

WILLIAM STREET CREDIT CORPORATION
200 West Street, New York, NY 10282

Application, pursuant to Section 601 of the Banking Law, for William Street Credit Corporation to merge with and into Goldman Sachs Bank USA under the name Goldman Sachs Bank USA, approved. 


Certificate issued to engage in the business as a Mortgage Broker under Article 12-D of the New York State Banking Law:

October 01, 2013 (BR-MBD)
Cityscape Mortgage Corp.
55 Main Street, 2nd Floor, Yonkers, NY 10701 2739


License issued to engage in the business of a Mortgage Banker under Article 12-D of the New York State Banking Law:

September 26, 2013 (MB-MBD)
RoundPoint Mortgage Company
8 Parkway Plaza, 5032 Parkway Plaza Blvd., #200, Charlotte, NC 28217

October 01, 2013 (MB-MBD)
Lending Unlimited, L.L.C.
In Lieu of True Name
Mortgage Unlimited, L.L.C.
222 Outwater Lane, Suite 4 B, Garfield, NJ 07026 2652

October 01, 2013 (MB-MBD)
Customized Mortgage Solutions, LLC
One DeWolf Road, Suite 101, Old Tappan, NJ 07675 7084


Certificate issued to engage in the business as a Mortgage Broker Branch under Article 12-D of the New York State Banking Law:

September 30, 2013 (BR-MBD)
Full Service Branch
Absolute Home Mortgage Corporation
40 Park Avenue, Second Floor, Rutherford, NJ 07070


License issued to engage in the business as a Mortgage Banker Branch under Article 12-D of the New York State Banking Law:

September 30, 2013 (MB-MBD)
Full Service Branch
Franklin First Financial, Ltd. D/B/A Franklin First Mortgage Bankers
Additional DBA(S): Presidents First Mortgage Bankers
Senior Funding Group
1020 Avenue X, First Floor, Brooklyn, NY 11223

September 30, 2013 (MB-MBD)
Full Service Branch
Urban Financial Group, Inc. D/B/A Reverse It!
3 Huntington Quadrangle, Suite 305N, Melville, NY 11747

September 30, 2013 (MB-MBD)
Full Service Branch
One Reverse Mortgage, LLC
154 Main Street, Carriage House #7, Hamburg, NY 14075

September 30, 2013 (MB-MBD)
Full Service Branch
Homestead Funding Corp.
517 Broadway, Suite 202
Saratoga Springs, NY 12866


Certificate to engage in the business of a Mortgage Broker surrendered:

October 02, 2013 (BR-MBD)
Radcliffe Credit Corp. DBA RCC Financial Services
2171 Jericho Turnpike, Suite 152, Commack, NY 11725

Effective Date: September 27, 2013

October 02, 2013 (BR-MBD)
Q.P. Mortgage Center, Inc.
1725 Central Park Avenue, Yonkers, NY 10710 4901

Effective Date: September 30, 2013


The following have been reinstated to the role of registered mortgage brokers. New mortgage brokerage residential property business may now be resumed:

October 02, 2013 (BR-MBD)
Gene Burshtein Enterprises, Inc.
2125 Flatbush Avenue, Brooklyn, NY 11234

October 02, 2013 (BR-MBD)
Carstan Funding Inc. DBA
Family Funding Services
606 Johnson Avenue, Suite #18, Bohemia, NY 11716 2688


Application approved pursuant to Section 594-b of the New York Banking Law and Part 410 of the Superintendent's Regulations for a control interest:

September 30, 2013 (MB-MBD)
Applicant(s)
James C. McMahan, II
To acquire interest in:
Ark-La-Tex Financial Services, LLC D/B/A
Benchmark Lending
5160 Tennyson Parkway, Suite 2000W, Plano, TX 75024 4297


The following Licensed Mortgage Banker has entered into a Settlement Agreement with the Department on September 24, 2013, in lieu of a hearing for a fine or revocation of it's mortgage banker license to settle the violation of Section 38.2(e) of the General Regulations, for stating the word "Bank" in the telephone number, and failing to clearly and conspicuously disclose the actual terms of repayment of an adjustable rate mortgage ("ARM"). The Settlement Agreement terms and conditions include a fine of $10,000.

September 30, 2013 (MB-MBD)
Franklin First Financial, Ltd. d/b/a Franklin First Mortgage Bankers
538 Broadhollow Road, Suite 401, Melville, NY 11747


Approvals issued to engage in the business of mortgage loan origination under Article 12-E of the New York State Banking Law.

Date of Approval

NMLS ID

Name of Applicant

City & State of Residence

Sponsoring Entity

October 1, 2013

653867

Austin John Stellato

Yorktown

NY

Silvermine Ventures, LLC

October 1, 2013

717330

Angelo  Dimichelo Jr

Chappaqua

NY

Silvermine Ventures, LLC