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, § 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).