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Massachusetts Statutes, Title IV

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Massachusetts/Statutes

← All Massachusetts coverage

Chapter 255E

12 sections in this chapter.

All chapters in Title IV978 Ch 32176 Ch 3197 Ch 24686 Ch 32A76 Ch 25364 Ch 32B54 Ch 24840 Ch 25540 Ch 255D38 Ch 25437 Ch 25232 Ch 255B29 Ch 24722 Ch 255C22

12 sections·Filtered byTitle IV✕Ch 255E✕

Mass. Gen. Laws ch. 255E, § 1 Definitions
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Section 1. As used in this chapter the following words shall, unless the context otherwise requires, have the following meanings:— ''Bona fide nonprofit affordable homeownership organization'', a Massachusetts nonprofit corporation with a primary purpose of helping qualified low-…
Mass. Gen. Laws ch. 255E, § 10 Penalties
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Section 10. Whoever violates section 2 or any rule or regulation promulgated thereunder shall be punished by a fine of not more than $2,000 or by imprisonment in the house of correction for not more than 2 1/2 years or by imprisonment in state prison for not more than 5 years, or…
Mass. Gen. Laws ch. 255E, § 11 Penalties; no limitation on civil action; review
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Section 11. (a) Whenever the commissioner finds that any licensee or exempt person under section 2 has violated this chapter or any rule or regulation adopted thereunder, or any other law of the commonwealth applicable to the conduct of the business of making or brokering mortgag…
Mass. Gen. Laws ch. 255E, § 12 Written notice of intention to prohibit; statement of facts; order of prohibition; service
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Section 12. (a) Whenever the commissioner determines that any person has, directly or indirectly, violated any section of this chapter or any rule or regulation adopted thereunder, applicable to the conduct of the business of making or brokering mortgage loans on residential prop…

Mass. Gen. Laws ch. 255E, § 2 Mortgage broker or lender license requirement; exempted entities

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Section 2. No person shall act as a mortgage broker or mortgage lender with respect to residential property unless first obtaining a license from the commissioner; provided, however, that any person who is employed by or associated with a licensed mortgage broker or mortgage lend…

Mass. Gen. Laws ch. 255E, § 3 License application; multi-state licensing system

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Section 3. The application for a license shall be in a form prescribed by the commissioner and shall contain the name and address or addresses where the business of the applicant is located and if the applicant is a partnership, association, corporation, or other form of business…

Mass. Gen. Laws ch. 255E, § 4 Issuance of license by commissioner; notice of license denial; appeal

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Section 4. Upon the filing of an application for a license, if the commissioner finds that the financial responsibility, character, reputation, integrity and general fitness of the applicant, and of the partners or members thereof if the applicant is a partnership or association,…

Mass. Gen. Laws ch. 255E, § 5 Information on license; changes; notice requirements

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Section 5. Each license shall state the address at which the business is to be conducted and shall state the name of the licensee. If a licensee intends to carry on such business at any place in addition to the address on the license, he shall so notify the commissioner, in writi…

Mass. Gen. Laws ch. 255E, § 6 License suspension or revocation; notice and hearing

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Section 6. The commissioner may suspend or revoke any license issued pursuant to this chapter if said commissioner finds that: (i) the licensee has violated any provision of this chapter or any rule or regulation adopted hereunder, or any other law applicable to the conduct of it…

Mass. Gen. Laws ch. 255E, § 7 Commissioner's order to cease and desist from unlawful act or practice; prior notice and opportunity for hearing; temporary order

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Section 7. (a) If the commissioner determines, after giving notice of and opportunity for a hearing, that a licensee has engaged in or is about to engage in an act or practice constituting a violation of a provision of this chapter or a rule, regulation or order hereunder, he may…

Mass. Gen. Laws ch. 255E, § 8 Annual report; examination of business records

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Section 8. Each licensee shall annually, on or before a date determined by the commissioner, file a report with the commissioner containing such information as said commissioner may require concerning the business and operations conducted by the licensee in the commonwealth durin…

Mass. Gen. Laws ch. 255E, § 9 Civil actions filed by commissioner

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Section 9. The commissioner may enforce the provisions of this chapter, or restrain any violations thereof, by filing a civil action in any court of competent jurisdiction.