2009 Massachusetts Code
PART III COURTS, JUDICIAL OFFICERS AND PROCEEDINGS IN CIVIL CASES
TITLE IV CERTAIN WRITS AND PROCEEDINGS IN SPECIAL CASES
CHAPTER 255F LICENSING OF MORTGAGE LOAN ORIGINATORS
Section 3 Application for license; contents; criminal offender record information; investigation and license fees; residential mortgage landing course

[ Text of section effective until July 31, 2009. For text effective July 31, 2009, see below.]

  Section 3. (a) The application for a mortgage loan originator license shall be in the form prescribed by the commissioner and shall contain the name, address and license number of the entity with whom a mortgage loan originator is or will be employed or associated with and other information as the commissioner may require, including evidence of compliance with subsection (b). The application shall also include a description of the activities of the applicant, in such detail and for such periods as the commissioner may require, and such further information as the commissioner may require. The commissioner may obtain, pursuant to section 172J of chapter 6 all available criminal offender record information from the criminal history systems board on an applicant for a mortgage loan originator license by means of fingerprint checks, and from the Federal Bureau of Investigation for a national criminal history records check. The information obtained thereby may be used by the commissioner to determine the applicant's eligibility for licensing under this chapter. Receipt of criminal history record information by a private entity is prohibited. Each application for a license shall be accompanied by an investigation fee. Investigation and license fees shall be determined annually by the secretary of administration under section 3B of chapter 7, but such total annual fees shall be not less than $500; provided, that such investigation and license fees shall not apply to any community development corporation as defined in section 1 of chapter 40F and organized under the General Laws.

  (b) An applicant shall have completed a residential mortgage lending course, approved by the division, not later than the 2 year period immediately preceding the date of the application.

Chapter 255F: Section 3. Application for license; furnishing of information to nationwide mortgage licensing system and registry; waiver or modification of requirements of chapter

[ Text of section as recodified by 2009, 44, Sec. 1 effective July 31, 2009. See 2009, 44, Sec. 4. For text effective until July 31, 2009, see above.]

  Section 3. (a) Any person seeking a mortgage loan originator's license pursuant to this chapter shall file an application, accompanied by the appropriate fee, with the division. Said application shall be made on a form to be furnished by the division, and shall require the applicant to state his name, the name and address of his employer, if any, and such other information as the division may require. The applicant shall, at a minimum, furnish to the Nationwide Mortgage Licensing System and Registry information concerning the applicant's identity, including: (i) fingerprints for submission to the Federal Bureau of Investigation, and any governmental agency or entity authorized to receive such information for a state, national and international criminal history background check; and (ii) personal history and experience in a form prescribed by the Nationwide Mortgage Licensing System and Registry, including the submission of authorization for the Nationwide Mortgage Licensing System and Registry and the commissioner to obtain: (1) an independent credit report obtained from a consumer reporting agency described in section 603(p) of the Fair Credit Reporting Act; and (2) information related to any administrative, civil or criminal findings by any governmental entity.

  (b) The commissioner may enter into agreements with the Nationwide Mortgage Licensing System and Registry or other entities designated by the Nationwide Mortgage Licensing System and Registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this chapter.

  (c) The commissioner may, for the purpose of participating in the Nationwide Mortgage Licensing System and Registry, waive or modify any requirement of this chapter and may establish new requirements as reasonably necessary to participate in the Nationwide Mortgage Licensing System and Registry.

  (d) The commissioner may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting information from the Federal Bureau of Investigation for the purposes of clause (i) and subclause (2) of clause (ii) of subsection (a) and distributing information to the Department of Justice or any governmental agency.

  (e) The commissioner may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting and distributing information to and from any source for the purposes of subclauses (1) and (2) of clause (ii) of subsection (a) as so directed by the commissioner.