A Message from NYAMB's President 10/23/2020
Dear Members:

First and foremost we hope that you and your families are safe and well.

I am reaching out to you today to reassure you that NYAMB's leadership is working closely with the NYS DFS and the Governor's office for guidance and assistance as we continue to navigate these uncharted waters together as a result of the current Covid 19 Pandemic.

We just received clarification to the Governor's Executive Order 2026 "Essential Business". Please see below from Gayathri Nair, Financial Services Manager of the NYS DFS:

"Based on Governor’s Executive Order 202.6, "Essential Business," includes Financial Institutions and services related to financial markets. Therefore Brokers are considered essential business."

 "Further on 12 th March , 2020, the Department issued an order for regulated entities that they may temporarily relocate any of their authorized places of business, if adversely affected by the outbreak of COVID-19, and all activities be conducted from any such relocated places of business. "

Please note the relocated place of business will remain subject to regulation and supervision of the New York State Department of Financial Services. For guidance please refer to the Order :


We are in this together and your NYAMB is here to assist you. We will continue to provide you with the latest industry updates as we continue to get answers. Meanwhile please do not hesitate to contact me personally if you have any questions.

Please note: At this time ALL NYAMB scheduled in-person events including our annual spring regulatory conference and certification classes will be hosted virtually until further notice. Please watch for more information coming out soon. Our AML Certification Training Class is scheduled for Wed., March 25th via live webinar. You can still register up till Midnight tonight at www.nyamb.org

Stay well and I will be in touch shortly.

Thank you,
Mark Favaloro, NYAMB President
Aamtrust Mortgage
Registered Mortgage Broker NMLS 44622
NYS Dept of Financial Svcs
19 Clifton Country Road Suite 3C. | Clifton Park NY 12065
Office: (518) 384-2274 |Cell: (518) 366-0096
Fax: (518) 207-0345 |Email: mfavaloro@aamtrust.com
New York Association of Mortgage Brokers
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