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 State Licensing Requirements

 
Company Licenses Description Requirements Checklist
Check Casher License This license is required of any company or sole proprietorship that cashes checks, drafts or money orders; and charges a fee of more than $1.00 per item. (More Details)
Check Seller License This license is required of any company or sole proprietorship that directly engages in the business of selling, issuing or registering checks or money orders. (More Details)
Debt Collector License This license is required of any company or sole proprietorship that directly or indirectly collects or attempts to collect third party debt from Massachusetts consumers; and active debt buyers. (More Details)
Exempt Company Registration This registration is available for any company that employs state-licensed mortgage loan originators but is not required to be licensed under the laws of Massachusetts. This registration is optional and is intended for companies that wish to manage their mortgage loan originator in NMLS. Please consult the state regulator before applying for this registration.
Foreign Transmittal Agency License This license is required of any company or sole proprietorship that engages in the business of receiving deposits of money from Massachusetts consumers for the purpose of transmitting the same or equivalents thereof to foreign countries. (More Details)
Insurance Premium Finance Company License This license is required of any company or sole proprietorship that engages, in whole or in part, in the business of acquiring premium finance agreements from insurance agents or brokers, or other premium finance agencies. (More Details)
Mortgage Broker License This license is required of any company or sole proprietorship, who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly negotiates, places, assists in placement, finds or offers to negotiate, place, assist in placement or find mortgage loans on Massachusetts residential property for others.
Mortgage Lender License This license is required of any company or sole proprietorship who engages in the business of making mortgage loans, or issues commitments for mortgage loans on Massachusetts residential property.
Motor Vehicle Sales Finance Company License This license is required of any company or sole proprietorship that engages in the business of purchasing retail installment contracts from retail sellers of motor vehicles, or any dealer who sells motor vehicles and holds the retail installment contracts. (More Details)
Retail Installement Sales Finance Company License This license is required of any company or sole proprietorship that engages in the business of purchasing retail installment sale agreements or revolving credit agreements from retail sellers of goods primarily for personal, family or household purposes. (More Details)
Small Loan Company License This license is required of any company or sole proprietorship that directly or indirectly engages in the business of making loans or engages, for a fee, commission, bonus or other consideration, in the business of negotiating, arranging, aiding or assisting a borrower or lender in procuring or making loans for personal, family or household purposes of $6,000 or less and an interest rate that exceeds 12%, regardless of whether such loans are actually made by that company/ sole proprietorship or by another party. (More Details)
Third Party Loan Servicer Registration This registration is required of any company or sole proprietorship who uses an instrumentality of interstate commerce or the mails in any business the principal purpose of which is servicing a loan directly or indirectly, owed or due or asserted to be owed or due another. (More Details)
Branch Licenses Description Requirements Checklist
Check Casher Branch License This license is required for each branch location or agent of a licensed check casher, other than the main licensed location, that cashes checks, drafts or money orders in Massachusetts; and charges a fee of more than $1.00 per item. (More Details)
Debt Collector Branch License This license is required of each branch location of a licensed debt collector, other than the main licensed location, that conducts debt collector business activity. (More Details)
Insurance Premium Finance Company Branch License This license is required of each branch location of a licensed insurance premium finance company, other than the main licensed location, that conducts insurance premium financing activity. (More Details)
Mortgage Broker License (Branch) This license is required for all offices, other than the main office identified on the Mortgage Broker License, whether located in Massachusetts or not, which conducts business with Massachusetts consumers. (More Details)
Mortgage Lender License (Branch) This license is required for all offices, other than the main office identified on the Mortgage Lender License, whether located in Massachusetts or not, which conducts business with Massachusetts consumers. (More Details)
Motor Vehicle Sales Finance Company Branch License This license is required of each branch location of a licensed motor vehicle sales finance company, other than the main licensed location, that conducts motor vehicle sales finance company business activity. (More Details)
Retail Installement Sales Finance Company Branch License This license is required of each branch location of a licensed retail installment sales finance company, other than the main licensed location, that conducts retail installment sales finance company business activity. (More Details)
Small Loan Company Branch License This license is required of each branch location of a licensed small loan company, other than the main licensed location, that conducts small loan business activity. (More Details)
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator License The license is required of any person who for compensation or gain or in the expectation of compensation or gain: (i) takes a residential mortgage loan application; or (ii) offers or negotiates terms of a residential mortgage loan.
 

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