By the Division of Banks

Permissibility Of Mortgage Brokers Offering An Appraisal Voucher

Licensees must disclose the type and number of their license on all advertisements pursuant to 209 CMR 42.15. It is the general position of the Division of Banks not to endorse any particular marketing or advertising materials proposed for use by a licensee, including any program offering a voucher good toward a borrower's appraisal fee upon the funding of a residential mortgage loan. However, the Division would look to ensure, through its periodic examinations, that the implementation of such a program is done in a fair and consistent manner which results in a consumer receiving the benefits of the offer presented.