BACKGROUND REPORT CERTIFICATION REQUIREMENTS AND CHECKLIST

In connection with your application to control a sales finance company supervised by the New York State Banking Department, an investigative background report is required. It is the responsibility of the applicant and its principals (officers, directors, stockholders holding ten percent or more of outstanding stock, partners or individuals, as applicable), to order such reports at their own expense from an independent licensed private investigation company. If assistance is required to select a company, please contact the Licensed Financial Services Division. Please note that all background investigation reports must be provided directly to the Banking Department by the private investigation company. These reports should be sent to:

NewYork State Banking Department
Licensed Financial Services Division
1 State St Plaza, 5th floor
New York, NY 10004.

Click here if you require a Background Investigation.

New York State Banking Department
Required Background Investigation Information

No background report will be considered complete unless all the information requested is included in the investigation report.

1.   Comprehensive credit report/history (include the actual report as well as summary).

2A. * Civil Court and Bankruptcy Court records for the past 10 years.

2B. * Criminal records (felonies, misdemeanors and violations).

* Include federal, state and local courts. Such reports shall contain at a minimum, court data from courts located in counties in which the applicant both worked and resided and all counties contiguous to those counties.

3. Education records.

4. Employment history.  Verify duties and responsibilities which clearly demonstrate at least five years of experience in the business of making residential mortgage loans or similar lending and credit evaluation experience.

5. Personal and professional references which must be furnished in writing and excluding relatives (at least 3 each).

6. Media history, if applicable (including electronic search of national and local newspapers, wire services and business publications).

7. Regulatory history, if applicable (HUD, FREDDIE MAC, State Regulators, OCC, NASD, etc.).

8. Department of Motor Vehicle records.

9. All judgments and liens filed with the county clerk. Such reports shall contain, at a minimum, information on judgments and liens filed with the county clerk in counties where the applicant worked and resided and all counties contiguous to those counties (within the past 10 years).

10. Licenses granted by any governmental agency or judicial body. (Indicate if they are still in good standing).

11. Listing of all credit relationships by the applicant such as revolving credit, established credit facilities and any credit extensions, including loans, on which the applicant is in default (more than 90 days past due).

New York State Banking Department
Required Background Investigation Information

No background report will be considered complete unless all the information requested is included in the investigation report.

1.   Comprehensive credit report/history (include the actual report as well as summary).

2A. * Civil Court and Bankruptcy Court records for the past 10 years.

2B. * Criminal records (felonies, misdemeanors and violations).

* Include federal, state and local courts. Such reports shall contain at a minimum, court data from courts located in counties in which the applicant both worked and resided and all counties contiguous to those counties.

3. Education records.

4. Employment history.  Verify duties and responsibilities which clearly demonstrate at least five years of experience in the business of making residential mortgage loans or similar lending and credit evaluation experience.

5. Personal and professional references which must be furnished in writing and excluding relatives (at least 3 each).

6. Media history, if applicable (including electronic search of national and local newspapers, wire services and business publications).

7. Regulatory history, if applicable (HUD, FREDDIE MAC, State Regulators, OCC, NASD, etc.).

8. Department of Motor Vehicle records.

9. All judgments and liens filed with the county clerk. Such reports shall contain, at a minimum, information on judgments and liens filed with the county clerk in counties where the applicant worked and resided and all counties contiguous to those counties (within the past 10 years).

10. Licenses granted by any governmental agency or judicial body. (Indicate if they are still in good standing).

11. Listing of all credit relationships by the applicant such as revolving credit, established credit facilities and any credit extensions, including loans, on which the applicant is in default (more than 90 days past due).