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Massachusetts Requirements

Massachusetts Requirements

Regulated By: Office of Commissioner of Banks
Consumer Affairs and Business Regulation: Division of Banks
Address:

Division of Banks
1000 Washington Street, 10th Floor
Boston, MA  02118-6400

Phone/Fax Numbers: (617) 956-1500 / (617) 956-1599
Website Address: http://www.mass.gov/dob

Please Note: The contents contained on this web page are for informational purposes only. State requirements often change. Please visit your state web site for the most up-to-date information. This information should not be interpreted as legal advice.

Please Select Which Requirements You Would Like To See

Mortgage Broker
Mortgage Lender
Mortgage Loan Originator
Community Development Corporation Mortgage Loan Originator License

Mortgage Broker

 Application Type: Updating Information (In Progress)
Application Fee:
 
Initial Education
and/or Experience:
 
Testing:
 
CE Requirement:
 
CE Deadline:
 
Surety Bond:
 
Finger Prints /
Criminal Background:
 
Net Worth:
 
Credit Report:
 
Renewals:
 

Mortgage Lender

Application Type:
Updating Information (In Progress)
Application Fee:
 
Initial Education
and/or Experience:
 
Testing:
 
CE Requirement:
 
CE Deadline:
 
Surety Bond:
 
Finger Prints /
Criminal Background:
 
Net Worth:
 
Credit Report:
 
Renewals:
 

Mortgage Loan Originator

Application Type:
License
Application Fee:
$645 (includes licensing fee, investigation fee, and NMLS processing fee)
Initial Education
and/or Experience:
20 Hours NMLS Approved Pre-Licensing Education (Including 3 hrs. MA Specific Content), and Sponsorship by a Licensed MA Company
Testing:
A Score of 75% on National and MA Test Components
CE Requirement:
8 Hours NMLS Approved CE, Annually (Including 1 hr. MA Specfic Content)
CE Deadline:
By December 31st
Surety Bond:
Covered by Employer's Surety Bond
Finger Prints /
Criminal Background:
Yes/Yes
Net Worth:
N/A
Credit Report:
Yes
Renewals:
By December 31st

Community Development Corporation Mortgage Loan Originator License

Application Type:
Updating Information (In Progress)
Application Fee:  
Initial Education
and/or Experience:
 
Testing:
 
CE Requirement:
 
CE Deadline:
 
Surety Bond:
 
Finger Prints /
Criminal Background:
 
Net Worth:
 
Credit Report:
 
Renewals:
 

REVISION DATE: 4/15/2011

Back to the State Guide


 
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