Section 397-A:19 – Cease and Desist.
397-A:19 Cease and Desist. – I. The commissioner may issue a cease and desist order against any licensee or person who it has reasonable cause to believe is in violation of the provisions of this chapter or any rule or order under this chapter. The order shall give notice of the facts or conduct […]
Section 397-A:10 – Change in Name; Ownership; Location.
397-A:10 Change in Name; Ownership; Location. – I. No licensee shall conduct the business of a mortgage banker, mortgage broker, or mortgage servicer under a trade name or any other name different from the name stated in its principal office license or branch office license without immediately notifying the commissioner, who shall then amend […]
Section 397-A:10-a – License Surrender.
397-A:10-a License Surrender. – I. A licensee who ceases to engage in the business of an originator, mortgage broker, mortgage banker, or mortgage servicer at any time for any cause shall file a request to surrender its license to the commissioner within 15 calendar days of such cessation and shall file such additional information […]
Section 397-A:11 – Record Keeping.
397-A:11 Record Keeping. – I. The licensee shall maintain such records as will enable the department to determine whether the licensee’s business is in compliance with all applicable federal laws and regulations, the laws and rules of this state, and the orders of the commissioner. Records relating to transactions shall be maintained in a […]
Section 397-A:12 – Examinations.
397-A:12 Examinations. – I. The banking department may examine the business affairs of any licensee or any other person, whether licensed or not, as it deems necessary to determine compliance with this chapter and the rules adopted pursuant to it and with the Consumer Credit Protection Act, (15 U.S.C. 1601 et seq.) as amended. […]
Section 397-A:12-a – Confidentiality.
397-A:12-a Confidentiality. – I. In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing and except as otherwise provided in the S.A.F.E. Mortgage Licensing Act of 2008, Public Law 110-289, Title V, section 1512, the requirements under any federal law or RSA 383:10-b, RSA 383:10-e, RSA 397-A:12, XI, and […]
Section 397-A:13 – Reporting.
397-A:13 Reporting. – I. Each mortgage banker, mortgage broker, or mortgage servicer shall submit to the Nationwide Multistate Licensing System and Registry reports of condition, which shall be in such form and shall contain such information as the Nationwide Multistate Licensing System and Registry may require, including but not limited to mortgage call reports […]
Section 397-A:14 – Lending Practices.
397-A:14 Lending Practices. – I. Any first mortgage loan, other than a reverse mortgage, made under the provisions of this chapter shall provide for the computation of interest on a simple interest basis. II. Interest may be computed either on a 360-day basis with each month containing 30 days, or on a 365-day basis […]
Section 397-A:14-a – Advertising.
397-A:14-a Advertising. – I. No licensee or other person shall advertise, print, display, publish, distribute, or broadcast or permit to be advertised, printed, displayed, published, distributed, or broadcast in any manner whatsoever any statement or representation with regard to the rates, terms, or conditions for the lending of money under the provisions of this […]
Section 397-A:14-b – Compliance With Requirements for Funding of Loans at Real Estate Closings.
397-A:14-b Compliance With Requirements for Funding of Loans at Real Estate Closings. – A mortgage banker, mortgage broker, or mortgage servicer licensee shall comply with the provisions of RSA 477:52 relative to requirements for the funding of loans at real estate closings. At a minimum, a closing requires the delivery of a deed if […]