Licensing of Certain Subsidiaries and Affiliates

A non-bank subsidiary or non-bank affiliate of a bank, trust company, savings bank, savings and loan association, credit union or insurance company organized under the laws of any other state or of a bank holding company established in accordance with state or federal law shall be subject to the mortgage broker and mortgage lender licensing and other provisions of M.G.L. c. 255E and 209 CMR 42.00.