Alert September 22, 2009

Massachusetts Issues Industry Letter on SAFE Act Requirements

The Massachusetts Division of Banks published an industry letter alerting lenders of actions it has taken to implement legislation enacted by Massachusetts in compliance with the federal Secure and Fair Enforcement of Mortgage Licensing Act of 2008 (reported in the August 11, 2009 Consumer Financial Services Alert). Actions taken include filing of emergency regulations, which became effective on September 15, 2009, and publishing FAQs. Click here for the letter and here for the FAQs.