Mortgage licensing / Massachusetts

Massachusetts Student Loan Servicer Branch

branch licence · NMLS MASTUDENTLNSERVICER_B · DOB

Requirements (9)

1. Step 1

   Submission of Branch Form (MU3): See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Complete and submit the Branch Form (MU3) in NMLS. This form serves as the branch office notification through NMLS.

   Submitted via: NMLS

2. Step 2

   Other Trade Names: Other Trade Names are managed at the company license level. If the company is operating under a name that is different from the company's legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of both the Branch Form (MU3) and the Company Form (MU1).

   Submitted via: NMLS

3. Step 3

   Branch Manager: A Branch Manager must be designated for each branch office location. A Branch Manager is defined as an individual whose principal office is physically located in, who is in charge of, and who is responsible for the business operations of a branch office. Note: Please refer to the Division of Banks Guidance to Licensees and Registrants Regarding Employee Remote Work.

   Submitted via: NMLS

4. Step 4

   Branch Manager (MU2) Attestation: Complete the Individual Form (MU2) in NMLS. This form must be attested to by the applicable branch manager before it is able to be submitted along with the Branch Form (MU3).

   Submitted via: NMLS

5. Step 5

   Credit Report: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Branch Managers are required to authorize a credit report through NMLS. Individuals will be required to complete an Identity Verification Process (IDV) along with an individual attestation before a license request for your company can be filed through NMLS. This authorization is made when the Individual Form (MU2) is submitted as part of the Branch Form (MU3).

   Submitted via: NMLS

6. Step 6

   Credit Report Explanations (Branch Manager): Submit a line by line, detailed letter of explanation of all derogatory credit accounts along with proof of payoffs, payment arrangements and evidence of payments made, or evidence of any formal dispute filed (documents must be dated). Accounts to address include, but are not limited to: collections items, charge offs, accounts currently past due, accounts with serious delinquencies in the last 3 years, repossessions, loan modifications, etc. Note: Items regarding bankruptcy, foreclosure actions, outstanding judgments or liens, or delinquent child support payments should be addressed in the Disclosure Explanations section of your Individual Form (MU2). This document should be named Credit Report Explanations – Branch Manager Name – Document Creation Date.

   Submitted via: Upload in NMLS: under the Document Type Credit Report Explanations in the Document Uploads section of the Individual Form (MU2).

7. Step 7

   MU2 Individual FBI Criminal Background Check Requirements:See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Branch Managers are required to authorize an FBI criminal background check (CBC) through NMLS. After authorizing an FBI criminal background check through the submission of the Company Form (MU1) and Individual Form (MU2), you must schedule an appointment to be fingerprinted if new prints are required. See the Criminal Background Check section of the NMLS Resource Center for more information. Note: If you are able to ‘Use Existing Prints’ to process the FBI criminal background check, you DO NOT have to schedule an appointment. NMLS will automatically submit the fingerprints on file.

   Submitted via: NMLS

8. Step 8

   Disclosure Question(s): Provide a complete and detailed explanation and document upload (containing official documents as a Supporting File) for each “Yes” response to Disclosure Questions made by the Branch Manager. See the Company Disclosure Explanations Quick Guide for instructions.

   Submitted via: Upload in NMLS in the Disclosure Explanations section of the Individual Form (MU2).

9. Step 9

   The following parameters regarding trade names and/or use of multiple trade names have been established: 1) the trade name may not be a separate legal entity from the applicant; and 2) Licensees must consistently use one single trade name when dealing with a consumer over the life of the loan agreement, installment contract, credit application, debt obligation, remittance transaction, cashing or sale of a check, money order, etc.

General information

Other Massachusetts mortgage licenses

• Automatic Federal Student Loan Servicer License
• Mortgage Broker License
• Mortgage Broker License
• Mortgage Lender License
• Mortgage Lender License
• Mortgage Loan Originator License
• All 9 Massachusetts licenses

Sourced from the NMLS/CSBS state licensing record, last updated April 18, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.