Comments received on proposed amendments to 209 CMR 32.32, 40.00, and 42.00

These comments were received by the Division of Banks (DOB) while proposing amendments to 209 CMR 32.32, 40.00, and 42.00

These hearings are being held by the DOB to receive oral comments relative to the amendments to existing regulations, 209 CMR 32.00: Disclosure of consumer credit costs and terms and 209 CMR 42.00: The licensing of mortgage lenders and mortgage brokers; and the adoption of proposed new regulations, 209 CMR 40.00: Unfair and deceptive practices in consumer transactions. The purpose of adopting new regulations and to amend existing regulations is to address certain abuses in the high cost mortgage lending industry. Both the new regulations, 209 CMR 40.00, and the amendments to 209 CMR 32.00 and 209 CMR 42.00 are intended to provide additional consumer protections to protect mortgage borrowers from predatory mortgage lending practices.

Notes

  • Written Comments are provided in Adobe Acrobat Portable Document Format (PDF).
  • Files may take several minutes to load depending on the file size, your internet connection speed, internet traffic congestion, and other factors. File sizes are provided following the Comment description.
  • To request copies of Comments, please contact the DOB's Consumer Assistance Unit.

Written comment received before hearings

Written comments received Tuesday, September 19, 2000 in Boston at public hearing

Oral comments received Tuesday, September 19, 2000 in Boston at public hearing

  • Dale Zelony, Community Bank League of New England
  • Tim Davis, City of Boston
  • Alliea Groupp, ACORN
  • Mrs. O'Neil, ACORN
  • Susan Zuber, Mass. Mortgage Bankers Assoc.
  • Odette Williamson, National Consumer Law Center
  • Clair A. Carlson, Jr., Atty., Mason & Martin, LLP

Oral comments received Wednesday, September 20, 2000 in Worcester at public hearing

  • Jennifer Davis Carey, Director of Consumer Affairs and Business Regulation
  • Representative Paul Kujawski, Webster, 8th Worcester District
  • Len Raymond, H.O.M.E.

Written comment received Thursday, September 21, 2000 in Holyoke at public hearing

Oral comment received Thursday, September 21, 2000 in Holyoke at public hearing

  • Jennifer Davis Carey, Director of Consumer Affairs and Business Regulation
  • James Demers, New England Financial Services Association, Concord, NH
  • Andrew Morehouse, Greater Holyoke CDC
  • Michael J. Sullivan, Mayor of Holyoke
  • Raquel Maldonado, ACORN
  • Nelsonia Santiago, ACORN
  • Manuela Santiago, ACORN

Written comments received after the public hearings

Written comments received after the comment period

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