Code of Massachusetts Regulations
209 CMR - DIVISION OF BANKS AND LOAN AGENCIES
Title 209 CMR 41.00 - The Licensing Of Mortgage Loan Originators
Section 41.11 - Challenge Process

Universal Citation: 209 MA Code of Regs 209.41

Current through Register 1531, September 27, 2024

(1) A Mortgage Loan Originator may challenge information entered into the NMLS by the Division. Such challenge must be in writing and must set forth the specific information being challenged and include supporting evidence. The grounds for the challenge shall be limited to the factual accuracy of the information pertaining to the Mortgage Loan Originator's own license record that has been entered into the NMLS by the Division. A Mortgage Loan Originator shall not submit a challenge in order to protest disciplinary action taken against the Mortgage Loan Originator by the Division or to appeal the underlying reasons for the disciplinary action.

(2) The Commissioner shall review all information submitted by the Mortgage Loan Originator and shall determine the merits of the challenge. If the Commissioner determines that the information submitted to the NMLS is factually incorrect, the Commissioner shall take prompt steps to correct the information submitted.

(3) A Mortgage Loan Originator that is aggrieved by the Commissioner's decision in response to the challenge submitted may appeal said decision within 30 days of the Commissioner's decision, in accordance with M.G.L. c. 30A.

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