HOUSE DOCKET, NO. 1425        FILED ON: 1/18/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1076

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

John J. Lawn, Jr.

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to mortgage licensing in Massachusetts.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

John J. Lawn, Jr.

10th Middlesex

1/18/2023

Smitty Pignatelli

3rd Berkshire

1/31/2023

Vanna Howard

17th Middlesex

2/2/2023


HOUSE DOCKET, NO. 1425        FILED ON: 1/18/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1076

By Representative Lawn of Watertown, a petition (accompanied by bill, House, No. 1076) of John J. Lawn, Jr., Smitty Pignatelli and Vanna Howard relative to mortgage licensing fees.  Financial Services.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 1142 OF 2021-2022.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Third General Court
(2023-2024)

_______________

 

An Act relative to mortgage licensing in Massachusetts.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Chapter 206, Acts of 2007, Section 15, § 6, is hereby replaced by the following:

Section 6. Each application for a license shall be accompanied by an investigation fee. Investigation and license fees shall be determined annually by the secretary of administration under section 3B of chapter 7 provided that such total annual fees shall be not less than $500 for licensees of non-Massachusetts Corporations and not less than $300 for licensees of Corporations headquartered within the Commonwealth of Massachusetts; provided further, that such investigation and license fees shall not apply to any community development corporation as defined in section 1 of chapter 40F and organized under the General Laws. The license of a mortgage loan originator shall expire annually. Each licensee, shall annually, on or before a date to be determined by the commissioner, submit a license renewal application. The license renewal application shall be on a form prescribed by the commissioner, signed under the pains and penalties of perjury, containing such information as the commissioner may require.