By the Division of Banks

Number And Types Of Disclosures To Prospective Applicants

It is the position of the Division of Banks that the mortgage broker fee agreement must be provided by the mortgage broker to the customer. Any statute or regulation that requires a lender or creditor to give certain information to the borrower, such as the good faith estimate of closing costs pursuant to Mass. Gen. Laws ch. 184 § 17D, must be given by the lender or creditor. It is the position of the Division that Mass. Gen. Laws ch. 184 § 17B requires disclosure by the mortgage lender, and not mortgage broker, because it is the mortgage lender who has access to the disclosure information required.