209 CMR 54.26 - Effect of Record of Performance on Applications
(1)
Performance.
Among other factors, the Commissioner takes into account the record of
performance of each mortgage lender, under the mortgage lender community
investment provisions of M.G.L. c. 255E, ยง 8 when submitting applications
for the following:
(a) renewal of a license
to conduct business in the Commonwealth by all mortgage lenders;
(b) establishment or renewal of any branch by
all mortgage lenders;
(c) any
merger with or acquisition of a mortgage lender or mortgage broker by a
mortgage lender or any other proposed change in control of a mortgage lender;
and
(d) any other approval of the
Commissioner, provided that there are no other countervailing financial safety
and soundness or other policy considerations.
(2)
Interested
Parties. In considering a record of performance in applications
described in 209 CMR 54.26(1), the Commissioner takes into account any views
expressed by interested parties that are submitted.
(3)
Denial, Deferral, or
Conditional Approval of Application. A mortgage lender's record of
performance may be the basis for denying, deferring, or conditioning approval
of an application listed in 209 CMR 54.26(1).
Notes
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