THE COMMONWEALTH OF MASSACHUSETTS
EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE
DIVISION OF BANKS
Pursuant to the provisions of Massachusetts General Laws chapter 255F and in accordance with the provisions of Massachusetts General Laws chapter 30A, section 2, a joint public hearing will be held on Tuesday, March 18, 2008 at 10:00 a.m., Hearing Room A, 5th Floor, One South Station, Boston, Massachusetts at which comments will be received by the Executive Office for Administration and Finance and the Division of Banks (the "Division") relative to the establishment of fees in connection with the licensing of mortgage loan originators under Chapter 206 of the Acts of 2007 and regulation 801 CMR 4.02.
SECTION 15 of Chapter 206 of the Acts of 2007 establishes a new chapter, Chapter 255F, in the General Laws which creates a licensing, examination and supervisory system for the regulation of individuals who act as mortgage loan originators in the Commonwealth. Sections 3 and 6 of Chapter 255F require that each application for a license be accompanied by an investigation fee and that each licensee pay an annual license fee. The proposed fees are $115 for the investigation and $500 for the annual license fee. Investigation and license fees shall be reviewed annually by the secretary of administration pursuant to section 3B of chapter 7 of the General Laws.
Written comments may be submitted to the Division on the proposed fees until 5:00 p.m. on Tuesday, March 18, 2008. Copies of the proposed fees are available at, and copies may be obtained from, the Massachusetts Division of Banks, One South Station, Boston, Massachusetts 02110 or at www.mass.gov/dob/.