Alert April 08, 2008

Massachusetts Publishes Industry Letter on Educational Requirements for Mortgage Loan Originators

The Massachusetts Division of Banks published a letter informing the industry of its intention to issue Regulatory Bulletin 1.1-105, which provides guidance applicable to mortgage loan originators. The guidance includes standards for loan originator education and the application process for the approval of mortgage educational courses and providers. Comments on the bulletin must be received by April 4th. Click here for a copy of the letter and here for a copy of the bulletin.