HOUSE DOCKET, NO. 3673        FILED ON: 1/17/2025

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The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Richard M. Haggerty

_________________

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:

Richard M. Haggerty

30th Middlesex

1/15/2025


HOUSE DOCKET, NO. 3673        FILED ON: 1/17/2025

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[Pin Slip]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Fourth General Court
(2025-2026)

_______________

 

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:
 

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.