By the Division of Banks

Licensing Exemptions For Mortgage Lenders

Any person or entity is prohibited from acting as a mortgage lender within the Commonwealth without first obtaining a mortgage lender license from the Commissioner of Banks, under Mass. Gen. Laws chapter 255E, § 2. However, no license is required for any mortgage lender making fewer than five mortgage loans in "any period of twelve consecutive months". It is the position of the Division that the numerical trigger of five or more mortgage loans for licensing to be applicable is calculated for any period of twelve consecutive months and not simply a calendar year.