reglab/housing_qa huggingface dataset:
NH Rev Stat § 397-A:2 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 of New Hampshire. The following persons are not considered to be engaged in the business of activities requiring regulation under this chapter:||(a) An individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the individual.||(b) An individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence.||(c)(1) An attorney licensed in New Hampshire performing activities that are within the definition of a loan originator, provided that such activities are:||(A) Considered by the New Hampshire supreme court to be part of the authorized practice of law within New Hampshire;||(B) Carried out within an attorney-client relationship; and||(C) Accomplished by the attorney in compliance with all applicable laws, rules, ethics, and standards.||(d) An individual who acts as a mortgage banker, mortgage broker, mortgage servicer, or mortgage originator if the individual is not engaged habitually and repeatedly in such activities in a commercial context. It shall be a rebuttable presumption that an individual is not engaged in the business of a mortgage banker, mortgage broker, mortgage servicer, or mortgage originator if the individual is not involved in more than 3 loans in any consecutive 12-month period.||II. Any mortgage loan made, brokered, or serviced under the provisions of this chapter shall be further governed by any other applicable laws of the state of New Hampshire and by the Consumer Credit Protection Act (15 U.S.C. Section 1601 et seq.), as amended.||III. Persons subject to or licensed under this chapter shall abide by applicable federal laws and regulations, the laws and rules of this state, and the orders of the commissioner. Any violation of such law, regulation, order, or rule is a violation of this chapter. Such federal laws and regulations include but are not limited to the Bank Secrecy Act (BSA), 31 U.S.C. Section 5311 et seq. and 31 C.F.R. Part X et seq. when required by the BSA, and include interpretive orders and similar directives.||IV. Any condition, stipulation, or provision binding any person to waive compliance with any provision of this chapter or any rule or order under this chapter is void.|||Source. 2016, 289:1, eff. Aug. 20, 2016. 2018, 211:1, eff. Aug. 7, 2018.|
NH Rev Stat § 397-A:3-a (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 financial institution at the same time, unless the entities are affiliates.||III. A mortgage banker, mortgage broker, or mortgage servicer shall not employ, retain, or otherwise engage an originator unless the originator is licensed.|||Source. 2016, 289:1, eff. Aug. 20, 2016.|
NH Rev Stat § 397-A:6 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 may, by order, restrict or impose conditions for a license. Each branch office license and originator license is only in effect when the associated mortgage banker, mortgage broker, or mortgage servicer is licensed in this state. Each branch manager of a location required to be licensed as a branch office under this chapter shall be licensed as a mortgage loan originator. Licensees shall be responsible for the supervision of their employees, agents, loan originators, and branch offices. Licensees shall conduct background checks, including checking the list of entities issued by the Office of Foreign Assets Control (OFAC) whose assets were frozen by executive order on all of their loan originators.||II. No mortgage banker, mortgage broker, or mortgage servicer license shall be issued to any person whose principal place of business is located outside of this state unless that person designates an agent residing within this state for service of process.||III. Each mortgage banker, mortgage broker, or mortgage servicer license issued under the provisions of this chapter shall state the name and address of the principal office of the licensee and, if the license is a branch office license, the name and address of the branch office location for which that license is issued.||IV. If a mortgage banker, mortgage broker, or mortgage servicer licensee is a person other than a natural person, the license issued to it shall entitle all officers, directors, members, partners, trustees, agents, originators, and employees of the licensed corporation, partnership, entity, or trust to make or broker loans; provided that all individuals who engage in the origination process are licensed as originators and that one officer, director, member, partner, employee, or trustee of such person shall be designated in the license application as the individual to be contacted under the provisions of this chapter.||V. If the mortgage banker, mortgage broker, or mortgage servicer licensee is a natural person, the license shall entitle all employees, agents, and originators of the licensee to make or broker loans, provided that all individuals who engage in the origination process are licensed as originators.||VI. A license issued under this chapter shall not be transferable or assignable between persons.|||Source. 2016, 289:1, eff. Aug. 20, 2016.|
NH Rev Stat § 397-A:7 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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.||III. Applicants may petition the banking department for a rehearing in accordance with RSA 541 if the decision in an appeal conducted pursuant to paragraph II affirms a denial of a license application.||IV. The commissioner may deem abandoned and withdraw any application for licensure as a mortgage banker, mortgage broker, or mortgage servicer made pursuant to this chapter if the applicant fails to respond in writing within 180 calendar days to a written request from the commissioner requesting a response. Such request shall be sent via certified mail to the last known address of the applicant that is on file with the commissioner.||V. The commissioner may deem abandoned and withdraw any application for licensure as a mortgage loan originator made pursuant to this chapter if the applicant fails to respond in writing within 60 calendar days to a written request from the commissioner requesting a response. Such request shall be sent via certified mail to the last known address of the applicant that is on file with the commissioner.|||Source. 2016, 289:1, eff. Aug. 20, 2016. 2019, 36:12, 13, eff. May 15, 2019.|
NH Rev Stat § 397-A:8 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 holds a valid mortgage banker, mortgage broker, or mortgage servicer license under this section and is in compliance with this chapter and the rules thereunder, such licensee may renew the license by paying the required fee to the banking department on or before December 1 for the ensuing year that begins on January 1. Failure to renew the license shall result in the license terminating on December 31.||III. A mortgage banker, mortgage broker, or mortgage servicer renewal fee of $500 for the principal office license and each branch office license shall be submitted with the application for license renewal.||IV. No application for renewal of a mortgage banker, mortgage broker, or mortgage servicer license shall be denied without reasonable cause and the right of appeal pursuant to RSA 541-A and RSA 541.|||Source. 2016, 289:1, eff. Aug. 20, 2016.|
NH Rev Stat § 397-A:9 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|Section 397-A:9 - Escrow Accounts.

    397-A:9 Escrow Accounts. –||I. Any licensee that receives funds from a mortgagor to be held in escrow for payment of taxes and insurance premiums shall pay the taxes and insurance premiums of the mortgagor to the appropriate taxing authority and insurance company in the amount required and at the time such taxes and insurance premiums are due, provided that the licensee has been provided with the tax or insurance bills at least 15 days prior to the date such taxes and insurance premiums are due, and the mortgagor has paid to the licensee the amounts required to be paid into the escrow account, as determined by the licensee, for all amounts scheduled to be paid to the licensee prior to the date such taxes and insurance premiums are due.||II. Each licensee shall, through its own effort and expense, determine and notify the mortgagor of the amounts necessary to be paid into the escrow account to assure that sufficient funds will be available for the payment of such taxes and insurance premiums as of the date such payment is due.||III. If the amount held in the escrow account as of the date such taxes and insurance premiums are due is insufficient to pay the taxes and insurance premiums despite compliance by the mortgagor with RSA 397-A:9, I, the licensee shall pay such taxes and insurance premiums from its own funds. The licensee shall then give the mortgagor the option of paying the deficiency over a period of not less than 12 months. The licensee shall not charge or collect interest on such deficiency during the 12-month period.||IV. Persons subject to this chapter that require or accept moneys for deposit in escrow accounts maintained for the payment of taxes or insurance premiums related to loans on single family homes secured by real estate mortgages on property located in New Hampshire shall credit each such escrow account with interest on all existing and future escrow accounts at a rate set for a 6-month period by the commissioner on February 1 and August 1 of each year which shall be one percent below the mean interest rate paid by New Hampshire-chartered depository banks on regular savings accounts. The commissioner shall post the rate on the department's website.|||Source. 2016, 289:1, eff. Aug. 20, 2016.|
NH Rev Stat § 397-A:10 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 the license accordingly.||II. A mortgage banker, mortgage broker, or mortgage servicer licensee shall submit written notification to the department of the addition or deletion of a principal and shall provide the name and address of each new principal no later than 30 days after such change. Each new principal shall authorize the commissioner to conduct a background check. The commissioner shall investigate management and ownership changes including, but not limited to, each principal's qualifications and business history. The licensee shall disclose any injunction or administrative order that has been issued against the principal and whether the principal has been convicted of a misdemeanor involving financial services or a financial services-related business or any fraud, false statements, or omissions, theft or any wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these offenses or convicted of any felony, prior to the commissioner's approval of such change.||III. Mortgage banker, mortgage broker, or mortgage servicer licensees shall provide written notice to the banking department of any proposed change in location or proposed closing of any licensed office no later than 10 business days prior to the effective date of such change of location or closing, unless such change of location or closing occurs under circumstances beyond the control of the licensee whereby such written notice shall be provided within 10 business days from the date the licensee becomes aware of the closing or relocation. Failure to comply with the provisions of this paragraph may be deemed sufficient cause for license revocation or denial of license renewal applications.||IV. Persons licensed under this chapter are under a continuing obligation to update information on file with the commissioner. If any information filed with the commissioner becomes materially inaccurate, the licensee must promptly submit to the commissioner an amendment to its application records that will correct the information on file with the commissioner. An amendment shall be considered to be filed promptly if the amendment is filed within 30 days of the event that requires the filing of the amendment. Significant events shall be reported to the department in writing within 10 days.|||Source. 2016, 289:1, eff. Aug. 20, 2016. 2018, 196:4, eff. Aug. 7, 2018. 2019, 36:14, eff. May 15, 2019.|
NH Rev Stat § 397-A:10-a (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 as may be required by the department.||II. Surrender of a license shall not take effect until the commissioner deems the surrender process complete.||III. Failure to comply with the provisions of this section and rules adopted under this section shall be cause for denial of future license applications and the imposition of penalties under RSA 397-A:20.|||Source. 2016, 289:1, eff. Aug. 20, 2016.|
NH Rev Stat § 397-A:11 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 readily accessible location and made available for examination for a period of at least 3 years after the licensee's final transaction on a loan or application file. All other business records, including but not limited to financial records, vendor contracts, communications and internal policies, shall be maintained for at least 3 years or as otherwise prescribed by the commissioner.||II. If the licensee retains a mortgage loan in its loan portfolio or services a loan it originated, an adequate loan payment history for such loan shall be made available to the department upon request.||III. If the commissioner or examiner finds any records to be inadequate, or kept or posted in a manner not in accordance with generally accepted accounting principles, the commissioner may employ experts to reconstruct, rewrite, post, or balance them at the expense of the person being examined if such person has failed to maintain, complete, or correct such records after the commissioner or examiner has given him or her written notice and a reasonable opportunity to do so.||IV. A licensee may maintain its records in electronic format if, upon request, the licensee provides the commissioner with:||(a) A full explanation of the programming of any data storage or communications systems in use; and||(b) Information from any books, records, electronic data processing systems, computers, or any other information storage system in the form requested by the commissioner.|||Source. 2016, 289:1, eff. Aug. 20, 2016.|
NH Rev Stat § 397-A:14-a (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 chapter which is false, misleading, or deceptive. Any reference to the amount of a loan shall refer to the original principal amount. Any statement so made of the amount of an installment or the rate or amount of interest charges required for any loan shall comply with the provisions of the federal Consumer Credit Protection Act, (15 U.S.C. 1601 et seq.) as amended.||II. Licensees shall ensure that the Nationwide Multistate License System and Registry unique identifier of any person originating a residential mortgage loan shall be clearly shown on all residential mortgage loan application forms, solicitations or advertisements, including business cards or websites, and any other documents as established by rule, regulation, or order of the commissioner.||III. Copies of any and all such advertising shall be retained by the licensee or other person for a period of 3 years after the first publication, distribution, or broadcast date of such advertising. Advertising files maintained under this section shall be subject to review by the banking department during the course of any examination or investigation undertaken in accordance with this chapter.|||Source. 2016, 289:1, eff. Aug. 20, 2016.|
NH Rev Stat § 397-A:14-b (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|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 the transaction is a conveyance, the signing of a note, and the disbursement of the mortgage loan funds.|||Source. 2016, 289:1, eff. Aug. 20, 2016.|
NH Rev Stat § 397-A:15-a (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers|Section 397-A:15-a - Consumer Inquiries.

    397-A:15-a Consumer Inquiries. –||I. Consumer complaints naming licensees under this chapter, which are filed in writing with the office of the commissioner, shall be forwarded via electronic mail or certified mail to the licensee for response within 10 days of receipt by the department. Licensees shall, within 10 days after receipt of such complaint, send a written acknowledgment thereof to the consumer and the banking department. Not later than 30 days following receipt of such complaint, the licensee shall conduct an investigation of the complaint and either:||(a) Make appropriate corrections in the account of the consumer and transmit to the consumer and the banking department written notification of such corrections, including documentary evidence thereof; or||(b) Transmit a written explanation or clarification to the consumer and the banking department which sets forth, to the extent applicable, the reasons why the licensee believes its actions are correct, including copies of documentary evidence thereof.||II. A licensee who fails to respond to consumer complaints as required by this section within the time prescribed shall pay to the commissioner the sum of $50 for each day such response is overdue. For purposes of this section, the date of transmission shall be the date such response is received by the commissioner.||III. (a) Licensees which, because of extenuating circumstances beyond the control of the licensee, are unable to comply with the time frames prescribed in this section, may make written request to the commissioner for a waiver of such time frames. Waivers shall not be granted or considered unless the request for the waiver:||(1) Is received by the banking department within 20 days following the licensee's receipt of the complaint;||(2) Specifies the reason for the request; and||(3) Specifies a date certain by which the licensee shall comply with the provisions of this section.||(b) Requests for waivers shall be either granted or denied within 5 days of receipt by the banking department.|||Source. 2016, 289:1, eff. Aug. 20, 2016. 2018, 207:4, 5, eff. Aug. 7, 2018. 2021, 194:25, eff. Oct. 9, 2021.|