Weekly Banking Bulletin

October 11, 2019

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 [email protected].

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 MS 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 VC Virtual Currency

Regulatory Unit Codes

CM Capital Markets
CRB Community and Regional Banks
CEU Consumer Examination Unit
FWB Foreign and Wholesale Banks
LFS Licensed Financial Services
MBD Mortgage Banking

SECTION I

October 4, 2019 (FB-FWB)
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
No. 55 Fuxingmennei Avenue, Xicheng District, Beijing, People’s Republic of China

Pursuant to Section 200 of the Banking Law, notice of intention to establish and maintain an additional branch office at 1185 Avenue of the Americas, Borough of Manhattan, City of New York 10036, received.


October 9, 2019

ORDER UNDER SECTION 12–a OF THE NEW YORK BANKING LAW

Order issued pursuant to Section 12–a of the Banking Law to allow a Qualified Credit Union to permit an officer or employee to borrow directly or indirectly on an unsecured basis, or become surety for an unsecured loan or advance made by such Qualified Credit Union, where such loan or advance or aggregate loans or advances exceed $20,000 (“Covered Loans”) without regard to the requirement for approval by a majority of its entire board of directors as set forth in Section 456.4 of the Banking Law as long as: (i) any such Covered Loan is made pursuant to lending policies and procedures approved by the board of directors of the Qualified Credit Union and acceptable to the Department; and (ii) Covered Loans to executive officers of the Qualified Credit Union, including those functioning in the capacity of the chief executive officer, president, treasurer, and chief financial officer, do not have more favorable rates, terms or conditions than those available to the Qualified Credit Union's members and are subject to review by the board of directors at the time they are made or amended.

As used herein, a "Qualified Credit Union" means a New York State-chartered credit union which:

  1. has assets of at least $10,000,000;
  2. at its most recent prior examination, had received a CAMEL rating of 1 or 2 in both the management component as well as the composite rating;
  3. is “well capitalized” in accord with the regulations of the National Credit Union Administration at 12 CFR Part 702; and
  4. is not operating under a formal or informal enforcement action or administrative order, including, but not limited to, a memorandum of understanding, cease and desist order, letter of understanding and agreement, preliminary warning letter or prompt corrective action directive.

Any Covered Loan to an officer or employee of a Qualified Credit Union who is a member of the board of directors, credit committee, or the supervisory committee of the Qualified Credit Union will continue to be subject to the requirements of Section 456.4 of the Banking Law.


August 19, 2019 (SL-CEU)
TFC CREDIT CORP OF CA
2010 Crow Canyon Place, Suite 300, San Ramon, California 94583

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


August 21, 2019(SL-CEU)
LAUNCH SERVICING, LLC
402 West Broadway, 20th Floor, San Diego, CA 9101

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


August 23, 2019(SL-CEU)
PARTNERS FINANCIAL SERVICERS, INC
575 Rudder Rd., Fenton, MO 63026

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


August 29, 2019 (SL-CEU)

LENDKEY TECHNOLOGIES
9999 Carver Road Suite 400, Cincinnati, OH 45242

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


Sept. 27, 2019 (SL-CEU)
TUITION OPTIONS, LLC
14000 Horizon Way #400, Mt Laurel, NJ 08054

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


Sept. 25, 2019 (SL-CEU)
RHODE ISLAND STUDENT LOAN AUTHORITY
935 Jefferson Blvd., Suite 300, Warwick, RI 02886

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


Sept. 25, 2019 (SL-CEU)
EDUCATIONAL COMPUTER SYSTEMS, INC.
100 Global View Drive, Suite 800, Warrendale, PA 15086

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


Sept. 26, 2019(SL-CEU)
KENTUCKY HIGHER EDUCATION STUDENT LOAN CORP
10180 Linn Station Road, Suite C200 Louisville, KY 40223

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


Sept. 30, 2019(SL-CEU)
ASPIRE RESOURCES, INC
6775 Vista Drive West, Des Moines, IA 50266

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


October 3, 2019 (SL-CEU)
NELNET SERVICING, LLC
121 South 13th Street, Lincoln, NE 68508

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


October 3, 2019 (SL-CEU)
VERMONT STUDENT ASSISTANCE CORPORATION
10 East Allen St., Winooski, VT 05404

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


October 3, 2019 (SL-CEU)
COLLEGE AVE STUDENT LOAN SERVICING, LLC
233 N. King St. Suite 400, Wilmington, DE 19801

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


October 7, 2019 (SL-CEU)
PENNSYLVANIA HIGHER EDUCATION ASSISTANCE
1200 North 7th Street, Harrisburg, PA 17102-1444

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


October 7, 2019 (SL-CEU)
UPSTART NETWORK INC
2950 South Delaware Street, Suite 300 San Mateo, CA 94403

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


October 7, 2019 (SL-CEU)
NAVIENT SOLUTIONS, LLC
2001 Edmund Halley Drive, Reston, VA 20191

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


October 7, 2019 (SL-CEU)
EARNEST OPERATIONS LLC
303 Second St., 4th Floor, San Francisco, CA 94107

Application for a license to engage in business as a student loan servicer, received.

The publication of receipt of this application does not indicate that the application is deemed complete.

An application is deemed complete and filed when all required and requested information has been provided to the Department by the applicant.


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

October 9, 2019 (MB-MBD)
Applicant(s)
Eric A Malchodi
Michael Scott Cagney
Thomas J. Milani
Xinyi Chen
Figure Lending Corp.
Figure Technologies Inc.
As: Figure Lending LLC
650 California Street, Suite 2700, San Francisco, CA 94108


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 NO. NAME OF APPLICANT CITY STATE
February 12, 2019 1571868 Lucia Alexandra Randall Montclair New Jersey
August 9, 2019 1884709 Anthony Carlo Basile East Northport New York
August 12, 2019 1403216 German E. Franco North Baldwin New York
August 21, 2019 1875131 Joseph Carruba Bethpage New York
August 30, 2019 1832541 Mark Thomas Young Mendham New Jersey
August 30, 2019 1877646 Hussein Moustafa Salmassi Dearborn Michigan
September 3, 2019 1877564 Omar Abdallah Mahmoud Canton Michigan
September 4, 2019 1845824 Tahnin Sarwar Chowdhury Sterling Heights Michigan
September 4, 2019 1877682 Sanamdeep Singh Sekhon South Lyon Michigan
September 13, 2019 1762144 Shin Yi Wang Rego Park New York
September 16, 2019 7468 Sean Patrick Sullivan Somerset Massachusetts
September 16, 2019 1297499 Angelo Maldonado Orlando Florida
September 16, 2019 1889064 Richard Polanco Wurtsboro New York
September 20, 2019 1880604 Sherry St. Hilein Westbury New York
September 23, 2019 1866665 Jacob Harley Potrzuski Westland Michigan
September 23, 2019 1877354 Shaheen Aaid Esmail Dearborn Michigan
September 25, 2019 864088 Justin Scott Hirschorn Forest Hills New York
September 25, 2019 1695363 Thomas Pescuma Halesite New York
September 26, 2019 1894630 Ronald Horton St. Albans New York
September 27, 2019 1889490 Baraket Mohamed Hejaij Dearborn Heights Michigan
September 30, 2019 1675750 Hassan Issa Unis Dearborn Michigan
September 30, 2019 1763526 Donovan James Malone East Lansing Michigan
September 30, 2019 1843572 Kellen Morgan Smith Royal Oak Michigan
September 30, 2019 1877469 Kyonni Imari-Chantel Jackson Detroit Michigan
September 30, 2019 1877510 Rachelle Nicole Justice Macomb Michigan
September 30, 2019 1877525 Spencer Philip Knight Gregory Michigan
September 30, 2019 1877528 Michael Andrew Kreutzjans Dearborn Michigan
September 30, 2019 1877558 Brian Stephen Loos St. Clair Shores Michigan
September 30, 2019 1877618 Steven Leonidas Brown Grand Blanc Michigan
September 30, 2019 1877626 Marshall Gartner Troy Michigan
September 30, 2019 1877655 Ali Hassan Harajli Dearborn Heights Michigan
September 30, 2019 1877687 Thair Mohammad Sarsour Ypsilanti Michigan
September 30, 2019 1877781 Thomas George Staperfenne Grosse Pointe Woods Michigan
September 30, 2019 1889966 Christina Maria Fisher Clinton Township Michigan
October 1, 2019 926690 Christopher Andrew Kuclo Farmington Michigan
October 1, 2019 1023679 Babak Omid Motamedi Detroit Michigan
October 1, 2019 1856131 Maranda Marie Gerstenschlager Taylor Michigan
October 1, 2019 1856143 Brian Augustus Bingham Wyandotte Michigan
October 1, 2019 1888252 Derek P. Malana Huntington New York
October 1, 2019 1889652 Aaron Lamar Washington Southfield Michigan
October 1, 2019 1889736 Dylan Joseph Padget Westland Michigan
October 1, 2019 1889950 Sasha Monek Watkins Detroit Michigan
October 2, 2019 1884740 Ryan Robert McAllian Bristol Rhode Island
October 3, 2019 1598948 Ryjuell R. Nixon Riviera Beach Florida

SECTION II

August 29, 2019 (LL-LFS)
YAMAHA MOTOR FINANCE CORPORATION, U.S.A.
6555 Katella Avenue, Cypress, Orange, California, 90630  

Application for a branch license to engage in business as a licensed lender at 3065 Chastain Meadows Parkway NW, Marietta, Georgia, 30066 was approved.


September 13, 2019 (SF-LFS)
YAMAHA MOTOR FINANCE CORPORATION, U.S.A.
6555 Katella Avenue, Cypress, Orange, California, 90630  

Application for a branch license to engage in business as a sales finance company at 3065 Chastain Meadows Parkway NW, Marietta, Georgia, 30066 was approved.


October 3, 2019 (FR-FWB)
DEUTSCHE PFANDBRIEFBANK AG
Parkring 28, 85748 Garching, Germany

The Department interposes no-objection to the notification, pursuant to Section 221-e of the Banking Law, of the relocation of the representative office from 300 Park Avenue, Borough of Manhattan, City of New York 10022 to 330 Madison Avenue, Borough of Manhattan, City of New York 10017.


October 9, 2019 (BK-CEU)
CARTHAGE SAVINGS AND LOAN ASSOCIATION
313 State Street, Carthage, NY  13619

Application accepted on October 09, 2019, pursuant to Section 96-d of the Banking Law, for the designation of the towns of Croghan, Denmark, and New Bremen, including the Villages of Croghan and Castorland, (Lewis County), New York, as a Banking Development District.  The co-applicants are the towns of Croghan, Denmark, and New Bremen, and the Villages of Croghan and Castorland.


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

October 9, 2019 (MB-MBD)
Reverse Mortgage Funding LLC
1455 Broad Street, 2nd Floor, Bloomfield, NJ 07003


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

October 9, 2019 (MS-MBD)
PENNYMAC CORP.
3043 Townsgate Road, Suite 300, Westlake Village, CA 91361


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

October 7, 2019 (MB-MBD)
Full Service Branch
FAReverse LLC in lieu of
Finance of America Reverse LLC
9255 Towne Centre Drive, Suite 700, San Diego, CA 92121

October 9, 2019 (MB-MBD)
Full Service Branch
Reverse Mortgage Funding LLC
41 Pinelawn Road, Ste. 200, Melville, NY 11747

October 9, 2019 (MB-MBD)
Full Service Branch
Reverse Mortgage Funding LLC
700 Corporate Boulevard, Newburgh, NY 12550


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

October 7, 2019 (BR-MBD)
JPA Realty Inc. D/B/A Atari Realty
215-54 Jamaica Avenue, Queens Village, NY 11428
Effective Date: September 3, 2019


Applications for licensing as a Mortgage Loan Originator under Article 12-E of the New York Banking Law, WITHDRAWN.  The individuals listed may not engage in mortgage loan origination activity in New York State or on New York State residential property:

DATE APPLICATION WITHDRAWN NMLS NO. NAME OF APPLICANT CITY STATE
October 4, 2019 909529 Shanna Marie Criddle Mesquite Texas
October 4, 2019 1862369 Ronni Nicole Niswonger Columbia Missouri