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Massachusetts Banks
The Massachusetts State Government has created a division to oversee banks
in Massachusetts. They’ve done
this to ensure a sound, competitive and accessible lending services environment.
The need for such a government authority is perhaps a significant sign that banks
are not always working in your best interests as a Massachusetts resident and
home loan consumer.
This department is part of the Massachusetts Consumer Affairs and Business
Regulation Division which licenses financial institutions in the Commonwealth
of Massachusetts. The type of financial companies that the division regulates
are: The Licensee list below contains the complete list of licensees including:
Check Cashers, Check Sellers, Debt Collectors, Foreign Transmittal Agencies, Insurance
Premium Finance Agencies, Loan Servicers, Mortgage
Brokers, Mortgage Lenders, Motor Vehicle
Sales Finance Companies, Retail Installment Finance Companies, and Small Loan
Companies.
Almost 700 individual mortgage lenders
are listed in the Massachusetts Mortgage
lenders category along with almost 1600 Massachusetts
mortgage brokers. Many of these businesses are out of state licensees.
If you’re thinking of only approaching a Massachusetts bank for your
mortgage needs, remember that their ranges of products and services may not be
appropriate for your situation. Banks are often very selective about their lending
and you may have to pay much higher mortgage rates
on a home loan with them.
Try GNA Mortgage group for your next new Massachusetts
home mortgage or mortgage refinancing.
We can help you with your mortgage planning.
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