Wednesday, August 26, 2009

New York Life Settlement Update

Here is your New York Life Settlement Update...

New York Gov. David Paterson issued a statement today announcing the appointment of Wrynn who will replace Eric Dinallo. Dinallo stepped down last month, amid speculation that he may run for state attorney general.

In Dinallo's absence, Kermitt Brooks has been serving as acting superintendent. Brooks will resume his No. 2 position in the department as first deputy superintendent.

Brooks has been instrumental in drafting life settlement legislation this year, which has met resistance from the settlement industry. The life settlement bill passed the New York state Assembly in June.

As of now, we do not know exactly what licensing Life Settlement Brokers will need to do busines in the state of New York.

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