Massachusetts H1183 revises mortgage licensing fees and renewal processes.

Massachusetts H1183 amends the mortgage licensing law by setting minimum annual fees for license applications, with $500 for non-Massachusetts corporations and $300 for those headquartered in Massachusetts. These fees do not apply to community development corporations. The bill also mandates annual license renewals, requiring licensees to submit renewal applications by a specified date, signed under penalty of perjury, and containing information as required by the commissioner.

Massachusetts H1183 revises mortgage licensing fees and renewal processes.

Massachusetts H1183 amends the mortgage licensing law by setting minimum annual fees for license applications, with $500 for non-Massachusetts corporations and $300 for those headquartered in Massachusetts. These fees do not apply to community development corporations. The bill also mandates annual license renewals, requiring licensees to submit renewal applications by a specified date, signed under penalty of perjury, and containing information as required by the commissioner.