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For assistance with mortgage licensing, contact us at:Direct Phone: (714) 656-3960
Fax: (714) 829-1444
steven@imlicensing.com
Information herein is for educational purpose only and is not meant to be a complete statement of all state mortgage licensing requirements. Additional State and FHA mortgage licensing requirements may be required. If you need further information, we would encourage you to contact us directly.
Massachusetts Mortgage Licensing
Mortgage Banker
Mortgage Lender License
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $200,000 - Audited
Surety Bond: $100,000 to $500,000
State Initial Fee: $1,000
Branch Licensing: Yes
Loan Originator Licensing: Yes
Education/Experience: 5 year of verifiable experience (Regulatory Bulletin 5.1-102 Experience Requirements for Mortgage Lender and Mortgage Broker Licensing)
Mortgage Broker
Mortgage Broker License
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $25,000 - Audited or Reviewed
Surety Bond: $75,000
State Initial Fee: $1,000
Branch Licensing: Yes
Loan Originator Licensing: Yes
Education/Experience: 3 year of verifiable experience (Regulatory Bulletin 5.1-102 Experience Requirements for Mortgage Lender and Mortgage Broker Licensing)
Mortgage Servicer
Third Party Loan Servicer Registration
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $ None
Surety Bond: $ None
State Initial Fee: $900
Branch Licensing: No
Loan Originator Licensing: N/A
Regulated by:
Division of Banks
1000 Washington Street, Floor 10
Boston, Massachusetts 02118-2218
White, Kimberly - Kimberly.White@state.ma.us
Telephone: (617) 956-1500
Fax: (617) 956-1599
http://www.mass.gov/dob/