Code of Massachusetts Regulations
761 CMR - MASSACHUSETTS HOME MORTGAGE FINANCE AGENCY
Title 761 CMR 22.00 - Servicer's Guide
GENERAL
Section 22.04 - Servicing Facilities

Universal Citation: 761 CMR 22.00 MA Code of Regs 22.04
Current through Register 1531, September 27, 2024

Servicer must maintain servicing facilities in The Commonwealth of Massachusetts that are staffed with trained personnel to adequately service Mortgage Loans, as determined at MHMFA's sole discretion, in accordance with standards normally employed by private institutional mortgage investors. Servicer's personnel shall be familiar with all regulations and requirements affecting Mortgage Loans serviced for MHMFA including, but not limited to, those insured by FHA or guaranteed by VA.

A Servicer must be a Mortgage Lender which has as one of its principal purposes the servicing of loans secured by real estate mortgages. Such mortgage loan servicing must customarily be part of the Servicer's regular, usual, and normal course of business. An organization which services mortgage loans occasionally or in special circumstances does not come within this definition.

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