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Apply for a debt collector license or loan servicer registration

Anyone engaging in third-party collection of consumer debt, or who purchases and directly collects consumer debt must be licensed through the Division of Banks (DOB). Anyone who services a loan owed to another needs to be registered through the DOB.

Division of Banks

Phone

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm. Use this number if you are hearing impaired.

The Details of Apply for a debt collector license or loan servicer registration

What you need for Apply for a debt collector license or loan servicer registration

There are some licensing and registration exemptions based on Massachusetts General Laws and regulation.

When applying for a debt collector license or third party loan servicer registration, the DOB recommends reviewing all applicable laws, regulations, and regulatory bulletins prior to submitting an application.

Fees for Apply for a debt collector license or loan servicer registration

Name Fee Unit
Debt collector license fee $1,000 per license
Debt collector FBI criminal background check $36.25 per owner(s) and control person(s)
Loan servicer registration fee $500 per registration
Loan servicer NMLS processing fee $100 per registration
Investigation fee (debt collector and loan servicer) $300 per license
Credit report fee (debt collector and loan servicer) $15 per control person(s)

How to apply Apply for a debt collector license or loan servicer registration

All Debt Collector or Loan Servicer license applications are submitted online using the NMLS with any supporting documents being mailed to the Division.

If you are associated with a company, it is important that you check in with your company before creating or completing a record in the NMLS.

Paper license/registration applications are no longer accepted.  

Mail documents to the DOB:

Massachusetts Division of Banks

Loan Originator Licensing

1000 Washington Street, 10th Floor

Boston, MA 02118

More info about Apply for a debt collector license or loan servicer registration

All fees collected through the NMLS are nonrefundable.

Contact for Apply for a debt collector license or loan servicer registration

Address
Main Office
1000 Washington Street, 10th Floor, Boston, MA 02118-6400
Phone

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm. Use this number if you are hearing impaired.

Fax
(617) 956-1599

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