Alert February 12, 2008

Massachusetts Issues FAQs on New Mortgage Lending Laws

The Massachusetts Division of Banks published FAQs regarding recent changes to Massachusetts’ mortgage lending laws. The FAQs cover (1) loan originator licensing requirements, (2) the 90-day cure period for mortgage loans in default, (3) subprime borrower counseling, and (4) Community Reinvestment Act requirements for licensed mortgage lenders. Click here for a copy of the FAQs.