| 1 | 1 | | 1 of 1 |
|---|
| 2 | 2 | | HOUSE DOCKET, NO. 3673 FILED ON: 1/17/2025 |
|---|
| 3 | 3 | | HOUSE . . . . . . . . . . . . . . . No. 1183 |
|---|
| 4 | 4 | | The Commonwealth of Massachusetts |
|---|
| 5 | 5 | | _________________ |
|---|
| 6 | 6 | | PRESENTED BY: |
|---|
| 7 | 7 | | Richard M. Haggerty |
|---|
| 8 | 8 | | _________________ |
|---|
| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
|---|
| 10 | 10 | | Court assembled: |
|---|
| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
|---|
| 12 | 12 | | An Act relative to mortgage licensing in Massachusetts. |
|---|
| 13 | 13 | | _______________ |
|---|
| 14 | 14 | | PETITION OF: |
|---|
| 15 | 15 | | NAME:DISTRICT/ADDRESS :DATE ADDED:Richard M. Haggerty30th Middlesex1/17/2025 1 of 1 |
|---|
| 16 | 16 | | HOUSE DOCKET, NO. 3673 FILED ON: 1/17/2025 |
|---|
| 17 | 17 | | HOUSE . . . . . . . . . . . . . . . No. 1183 |
|---|
| 18 | 18 | | By Representative Haggerty of Woburn, a petition (accompanied by bill, House, No. 1183) of |
|---|
| 19 | 19 | | Richard M. Haggerty relative to mortgage licensing fees. Financial Services. |
|---|
| 20 | 20 | | The Commonwealth of Massachusetts |
|---|
| 21 | 21 | | _______________ |
|---|
| 22 | 22 | | In the One Hundred and Ninety-Fourth General Court |
|---|
| 23 | 23 | | (2025-2026) |
|---|
| 24 | 24 | | _______________ |
|---|
| 25 | 25 | | An Act relative to mortgage licensing in Massachusetts. |
|---|
| 26 | 26 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
|---|
| 27 | 27 | | of the same, as follows: |
|---|
| 28 | 28 | | 1 Section 15, ยง 6, is hereby replaced by the following: |
|---|
| 29 | 29 | | 2 Section 6. Each application for a license shall be accompanied by an investigation fee. |
|---|
| 30 | 30 | | 3Investigation and license fees shall be determined annually by the secretary of administration |
|---|
| 31 | 31 | | 4under section 3B of chapter 7 provided that such total annual fees shall be not less than $500 for |
|---|
| 32 | 32 | | 5licensees of non-Massachusetts Corporations and not less than $300 for licensees of |
|---|
| 33 | 33 | | 6Corporations headquartered within the Commonwealth of Massachusetts; provided further, that |
|---|
| 34 | 34 | | 7such investigation and license fees shall not apply to any community development corporation as |
|---|
| 35 | 35 | | 8defined in section 1 of chapter 40F and organized under the General Laws. The license of a |
|---|
| 36 | 36 | | 9mortgage loan originator shall expire annually. Each licensee, shall annually, on or before a date |
|---|
| 37 | 37 | | 10to be determined by the commissioner, submit a license renewal application. The license renewal |
|---|
| 38 | 38 | | 11application shall be on a form prescribed by the commissioner, signed under the pains and |
|---|
| 39 | 39 | | 12penalties of perjury, containing such information as the commissioner may require. |
|---|