On September 19, the Massachusetts Division of Banks (the Division) issued an Industry Letter to provide guidance regarding a new mortgage licensing exemption for “bona fide nonprofit affordable homeownership organizations.” These bona fide nonprofits, who must have as their primary purpose helping qualified low-income individuals build, repair, and purchase affordable housing, may apply to the Division for exemption from licensure as a mortgage broker or mortgage lender. Additionally, if a bona fide nonprofit is approved for this exemption, individual mortgage loan originators who are employed by that bona fide nonprofit are deemed exempt from the mortgage loan originator requirements.