Unlicensed Mortgage Banking 🎯
Self-Represented Foreclosures 🎯
Public Integrity at
Risk.
🚱
Under NY Banking Law § 590 & § 591, entities (AND INDIVIDUALS) originating more than five residential mortgage loans per year must be licensed by the Department of Financial Services (DFS).
The Evidence: A search of the DFS "Who We Supervise" portal confirms that neither Alan Waintraub nor his primary corporate vehicles (Majestic Crown NY LLC, Albany Avenue Partners LLC, Landlord Plus Inc, Green Stone Homes LLC) hold the required licenses.
The Impact: Since 2018, these entities have moved millions in high-interest debt without regulatory oversight.
Interest rates exceeding 25% annually constitute criminal usury in New York. Review of these loan structures—specifically when including "origination fees, pre-foreclosures fee, and attorney fee’s"—indicates APRs that exceed legal thresholds.
Case Study: $19M+ in
Non-Compliant Filings
The following data reflects property seizures and mortgage
originations executed by Waintraub-controlled entities.
The Pattern: In these cases, Alan Waintraub often serves as the lender, the legal counsel of record, and the individual "personally verifying" the truth of the foreclosure complaints—a circular structure used to bypass independent verification.
The 31 U.S.C. § 5336 requires the disclosure of "True Beneficial Owners" to prevent the misuse of shell companies for unlawful financial activity.
The Concern: The use of multiple LLCs (Majestic Crown, Albany Ave, Landlord Plus) to originate and enforce loans—while concealing the controlling individual—triggers federal reporting requirements under FinCEN’s jurisdiction.
Regulatory systems only work when triggered. Use the evidence above to file your reports.
Public accountability depends on public participation. Regulatory systems only work when enforced.
THE COALITION IS IN THE ROOM.