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 […]
Section 397-A:6 – License Grant.
397-A:6 License Grant. – I. If the commissioner determines that the applicant meets the requirements of this chapter, then the commissioner shall forthwith issue a license or licenses permitting the applicant to act as a mortgage originator, mortgage banker, mortgage broker, or mortgage servicer in accordance with the laws of this state. The commissioner […]
Section 397-A:7 – License Denial or Abandonment; Appeal.
397-A:7 License Denial or Abandonment; Appeal. – I. If the commissioner determines that the applicant fails to meet the requirements of this chapter, the commissioner shall, in writing, immediately notify the applicant of that determination. II. Applicants may appeal a license denial in accordance with RSA 541-A and rules of the commissioner adopted thereunder. […]
Section 397-A:8 – License Term; Renewal.
397-A:8 License Term; Renewal. – I. Each mortgage banker, mortgage broker, or mortgage servicer license shall remain in force until it has been surrendered, revoked, or suspended, or terminates or expires in accordance with the provisions of this chapter. Each license shall expire on December 31 of each calendar year. II. If a person […]
Section 397:6 – Suspension of Laws.
397:6 Suspension of Laws. – All laws inconsistent herewith shall be suspended during the period of any banking emergency. Source. 1933, 25:7. RL 318:7.
Section 397-A:1 – Definitions.
397-A:1 Definitions. – In this chapter: I. " Agent " means any individual, other than a mortgage banker, mortgage broker, or mortgage servicer who is employed or retained by a mortgage banker, mortgage broker, or mortgage servicer required to be licensed under this chapter, and who represents a mortgage banker, mortgage broker, or mortgage […]
Section 397-A:2 – Application of Chapter.
397-A:2 Application of Chapter. – I. This chapter shall provide for the department’s regulation of persons that engage in the business of a mortgage banker, mortgage broker, mortgage servicer, or mortgage originator for a mortgage loan from the state of New Hampshire or a mortgage loan secured by real property located in the state […]
Section 397-A:3 – License Required.
397-A:3 License Required. – I. Prior to engaging in the business of a mortgage broker, mortgage banker, mortgage originator, or mortgage servicer, a person shall obtain and maintain a license under this chapter. Each mortgage banker, broker, originator or servicer shall register with and obtain and maintain a valid unique identifier issued by the […]
Section 397-A:3-a – Prohibitions.
397-A:3-a Prohibitions. – I. No individual may act as an originator for more than one mortgage broker, mortgage servicer, mortgage banker, or other financial institution at the same time, unless the entities are affiliates. II. No individual may act as a principal for more than one mortgage broker, mortgage servicer, mortgage banker, or other […]
Section 397-A:4 – Exemptions.
397-A:4 Exemptions. – The provisions of this chapter shall not apply to: I. Depository institutions or an institution regulated by the Farm Credit Administration. II. Registered mortgage loan originators, when acting for an entity described in paragraph I or for a subsidiary that is owned and controlled by an entity described in paragraph I. […]