Third-Party Document Preparation Companies
The Division of Banks does not license or regulate document preparation companies, nor is a license required currently by any other agency or statute of the Commonwealth. The Division emphasizes that any licensed mortgage lender or mortgage broker, according to Mass. Gen. Laws c. 255E, is responsible for the accuracy and completeness of the documents which must be provided to the borrower in a mortgage loan transaction. If mortgage lenders or brokers utilize third-party document preparation companies, they must take all measures necessary to ensure that the documents are in compliance with applicable statutes and regulations.