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Effective
12/11/2009
Massachusetts Division of Banks
One South Station
Boston, MA 02110
Ph: (617) 956-1500
Fax: (617) 956-1599
Registration Required Effective 12/28/07
Existing Loan Originators must have
submitted the License Application by 5/28/08 to have been exempt from 24
hour initial education requirement. All originators must complete a 24
hour requirement. 8 hours annually thereafter. Must meet credit
guidelines < 3x30, 2x60, 1x90 (A-..?)
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Initial Pre-Licensing Education
Upon Registration you will receive
pre-class online instruction, and your textbooks will be sent to
you. |
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Annual Continuing Education (8
Hours)
Meets requirement for continuing
education credit hours (all providers who have pre-licensing
courses approved can offer continuing education) |
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New
Loan Officer/Loan Mod Agent
On-Line Skills Based Training |
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Massachussets
Mortgage Lending Blog |
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3/07/09 - Q: The State of
Massachusetts requires the Mortgage Review Letter be supplied to
the borrower in a denial
situation. In a wholesale transaction, would the broker provide
this disclosure or the lender who made the decision to decline?
In most scenarios, the borrower would not know who the lender is
from an application standpoint. |
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