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Division of Banks
| DEPARTMENT |
FY 2018
Budgetary Recommendation |
FY 2018
Federal, Trust, and ISF |
FY 2018
Total Spending |
FY 2018
Budgetary Non-Tax Revenue |
|---|---|---|---|---|
| Division of Banks | 20,262 | 193 | 20,456 | 31,185 |
| account | description | amount |
|---|---|---|
| DIVISION OF BANKS | 20,455,714 | |
| Budgetary Recommendation | 20,262,384 | |
| Direct Appropriations | 18,612,384 | |
| 7006-0010 |
DIVISION OF BANKS
For the operation of the division of banks; provided, that notwithstanding any general or special law to the contrary, the division shall assess 100 per cent of the amount appropriated in this item, and the associated fringe benefits costs for personnel paid from this item, upon financial institutions which the division currently regulates under section 2 of chapter 167 of the General Laws |
18,612,384 |
| Retained Revenues | 1,650,000 | |
| 7006-0011 |
LOAN ORIGINATOR ADMINISTRATION AND CONSUMER COUNSELING PROGRAM
For the division of banks, which may expend for the costs associated with the licensure of loan originators under chapter 255F of the General Laws an amount not to exceed $1,650,000 from the revenue received from administrative fees associated with licensure fees and from civil administrative penalties under chapter 255F ; provided, that funds in this item may be expended as competitive grants for the operation of a pilot program for best lending practices, first-time homeowner counseling for non-traditional loans and 10 or more foreclosure education centers under section 16 of chapter 206 of the acts of 2007 ; provided further, grants may also be for housing services and counseling provided by regional housing consumer education centers operated by the regional nonprofit housing authorities also awarded through a competitive application process; and provided further, that notwithstanding any general or special law to the contrary, for the purpose of accommodating timing discrepancies between the receipt of revenues and related expenditures, the department may incur expenses and the comptroller may certify for payment the amounts not to exceed the lower of this authorization or the most recent revenue estimate, as reported in the state accounting system |
1,650,000 |
| account | description | amount |
|---|---|---|
| Trust Spending | 193,330 | |
| 7006-0041 | MORTGAGE LOAN SETTLEMENT TRUST | 178,330 |
| 7006-0044 | CONSUMER BOND CLAIM EXPENDABLE TRUST | 15,000 |
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