Massachusetts Mortgage Licensing | Massachusetts Division of Banks
Mortgage Banker | Mortgage Lender License
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee: $400 – Foreign Entity Fee $125 – Registered Agent Fee $1,000 – $100k Surety Bond Fee $1,800 – Company License Fee |
Mortgage Broker | Mortgage Broker License
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$400 – Foreign Entity Fee
$125 – Registered Agent Fee
$750 – Surety Bond Fee
$1,000 – Company License Fee
- Physical In-State Office Required: No
- Qualifying Individual: Yes, 3 year of mortgage experience (verified by w-2s, 1099s, and tax returns) and good credit (Regulatory Bulletin 5.1-102 Experience Requirements for Mortgage Lender and Mortgage Broker Licensing)
- Minimum Net Worth: $25,000 - Audited or Reviewed
- Surety Bond: $75,000
- Branch Licensing: Yes
- Loan Originator Licensing: Yes
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$400 – Foreign Entity Fee
$125 – Registered Agent Fee
$750 – Surety Bond Fee
$1,000 – Company License Fee
Mortgage Servicer | Third Party Loan Servicer Registration
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$400 – Foreign Entity Fee
$125 – Registered Agent Fee
$900 – Company License Fee
- Physical In-State Office Required: No
- Qualifying Individual: No
- Minimum Net Worth: $ None
- Surety Bond: $ None
- Branch Licensing: No
- Loan Originator Licensing: N/A
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$400 – Foreign Entity Fee
$125 – Registered Agent Fee
$900 – Company License Fee
Regulated by:
Massachusetts Division of Banks
1000 Washington Street, Floor 10
Boston, Massachusetts 02118-2218
White, Kimberly - [email protected]
Tom Brennan, Chief Director - (617) 956-1500x564 - [email protected]
Paul A. Gibson, Senior Deputy Commissioner - 617-956-1536 - [email protected]
Telephone: (617) 956-1500
Fax: (617) 956-1599
http://www.mass.gov/ocabr/government/oca-agencies/dob-lp/
Massachusetts Division of Banks
1000 Washington Street, Floor 10
Boston, Massachusetts 02118-2218
White, Kimberly - [email protected]
Tom Brennan, Chief Director - (617) 956-1500x564 - [email protected]
Paul A. Gibson, Senior Deputy Commissioner - 617-956-1536 - [email protected]
Telephone: (617) 956-1500
Fax: (617) 956-1599
http://www.mass.gov/ocabr/government/oca-agencies/dob-lp/