MA
Massachusetts House Bill H1272

Massachusetts 2025-2026 Regular Session

Massachusetts House Bill H1272

Introduced
2/27/25  

Caption

Relative to mortgage review boards and a small business loan review board within the Division of Banks

Impact

The bill’s implementation will amend Chapter 167 of the General Laws, thereby formalizing the process for handling mortgage loan denials and small business loan applications. It stipulates that the mortgage review boards will review denied applications and communicate their decisions within 45 days. This establishes a framework of accountability and protects consumers from potential discrimination in mortgage lending practices. Meanwhile, the small business loan review board will similarly review claims of unreasonable loan denials from small businesses, ensuring that the loan market remains accessible to businesses grossing $1 million or less annually.

Summary

House Bill 1272 proposes the establishment of two regional mortgage review boards and a small business loan review board within the Division of Banks in Massachusetts. The mortgage review boards are aimed at addressing residential mortgage loan denials that applicants believe are unjustly made based on the location of the property. For applicants whose mortgage applications are denied, the bill mandates a written notification from the mortgagee detailing the process to appeal the denial to the appropriate review board. Each board will consist of a mix of mortgagee representatives and community members, ensuring diverse representation from different regions within the state.

Contention

There may be points of contention surrounding the formulation and operational procedures of these boards, particularly regarding how effectively they will manage consumer appeals and whether they can reach fair decisions in a timely manner. Stakeholders may debate the representation on the boards, as well as the balance of power between financial institutions and community interests. The proposed regulatory changes could also lead to discussions about broader impacts on lending practices, especially in terms of establishing metrics for evaluating denial cases and ensuring equitable access to credit.

Latest H1272 Activity

Companion Bills

No companion bills found.

Previously Filed As

MA H447

Regarding credit card surcharging

MA H3396

Designating the official seasoning of the Commonwealth

MA H1271

Relative to home owners insurance and funding repairs

MA H1269

Eliminate penalty charges when canceling auto insurance

MA H1910

Regarding willful injury to public defenders and other court personnel

MA H446

Relative to wildlife rehabilitators

MA H3537

Ensuring ratepayer and community representation in utility company regulatory proceedings

MA H1908

To prohibit the sale of "energy drinks" to persons under the age of 18

Similar Bills

TX HB1963

Relating to the election of a commissioner of the Public Utility Commission of Texas.

NH HB429

Relative to amending the term length for county commissioners.

KS HB2333

Renaming the Kansas insurance department as the Kansas department of insurance, the office of the securities commissioner of Kansas as the department of insurance, securities division, the securities commissioner as the department of insurance assistant commissioner, securities division and eliminating the requirement that the senate confirm department of insurance assistant commissioner, securities division appointees.

IN SB0450

Article V convention.

LA HB350

Provides relative to drainage districts

IA HF654

A bill for an act concerning persons appointed to a convention called by the United States Congress to propose amendments to the Constitution of the United States, making appropriations, and providing penalties.(Formerly HF 438.)

IA SF350

A bill for an act concerning persons appointed to a convention called by the United States Congress to propose amendments to the Constitution of the United States, making appropriations, and providing penalties.

IA HF438

A bill for an act concerning persons appointed to a convention called by the United States Congress to propose amendments to the Constitution of the United States, making appropriations, and providing penalties.(See HF 654.)