Massachusetts Mortgage Licensing
Mortgage Broker Licensing
License: Massachusetts Mortgage Broker License
Physical Office Required: No
Qualifying Individual Required: Yes, a control person must have three years of full time experience.
Minimum Net Worth: $25,000
Financial Statements: CPA reviewed
Surety Bond Amount: $75,000
Company License Fee: $1,000
Mortgage Lender Licensing
License: Massachusetts Mortgage Lender
Physical Office Required: No
Qualifying Individual Required: Yes, on-site manager
Minimum Net Worth: $200,000
Financial Statements: Audited
Surety Bond Amount: $100,000
Company License Fee: $1,500
Regulated by:
Massachusetts Division of Banks
Attn: Mortgage Lender/Mortgage Broker Licensing Unit
1000 Washington Street, 10th floor
Boston, MA 02118-2218 Phone: 617-956-1500
Fax: 617-956-1599