Mortgage Licensee's Use Of Trade Name
It has been the consistent policy of the Division of Banks that a licensee under Mass. Gen. Laws ch. 255E may not engage in making loans under a trade name while conducting other lending business under its corporate name. One purpose of the licensing process set forth in Mass. Gen. Laws ch. 255E is to ensure that consumers know the identity of the lender with whom they are doing business. To allow the use of a trade name for a division within a mortgage lender's company could lead to potential consumer confusion relative to the actual lender.