In order to promote more effective regulation and reduce regulatory burden through
supervisory information sharing, information provided to the superintendent by an
MLO shall be subject to the following:
1. Except as otherwise provided in public law 110-289, section 1512, 1 the requirements under any federal law, the freedom of information law (“FOIL”) 2 or other law of this state regarding the privacy or confidentiality of any information
or material provided to the NMLSR, and any privilege arising under federal or state
law (including the rules of any federal or state court) with respect to such information
or material, shall continue to apply to such information or material after the information
or material has been disclosed to the NMLSR. Such information and material may be shared with all state and federal regulatory
officials with mortgage industry oversight authority without the loss of privilege
of the loss of confidentiality protections provided by federal law, FOIL or this chapter.
2. For these purposes, the superintendent is authorized to enter into agreements or
sharing arrangements with other governmental agencies, the Conference of State Bank
Supervisors, the American Association of Residential Mortgage Regulators or other
associations representing governmental agencies as established by rule, regulation
or order of the superintendent.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.