The Massachusetts Mortgage Lender Bond is required by the Commonwealth of Massachusetts, Commissioner of Banks. The bond is required in the event of insolvency, liquidation, or bankruptcy of the bond holder, or the expiration, surrender, or revocation of the relevant license, and may be used exclusively by the Commissioner for the benefit of consumers or borrowers for the reimbursement of consumer fees or other charges determined by the Commissioner to be improperly charged or collected, and to satisfy any past due Division costs, assessments, penalties, or other obligations which have been charged to the bond holder.
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