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New Hampshire Origination Reference Guide

New Hampshire Origination Reference Guide

Owned by Kacey Olson (Unlicensed)
Aug 29, 2017

CitationTopicRequirement
Nondepository Mortgage Bankers and Brokers Act / N.H. Rev. Stat. Ann. §397-A:16(I)

Advance Fee Disclosure

Mortgage bankers and mortgage brokers that charge fees and points for services rendered in conjunction with the origination, closing and servicing of loans must provide a written disclosure to the borrower stating the estimated amount and purpose of all fees and expenses within 3 business days of the receipt of a loan application. If any fee is collected in advance of the closing of the loan, the mortgage banker or mortgage broker must provide the borrower with a written explanation of the purpose and disposition of the fee.

Nondepository Mortgage Bankers and Brokers Act / N.H. Rev. Stat. Ann. §397-A:14(III)

N.H. Rev. Stat. Ann. §397-A:16-a(VII)

Application of Payments Disclosure

With respect to first or second mortgage loans on which the payment is applied on the date received, the licensee must provide to the borrower at the time the application is taken, a separate written disclosure which explains how the payments will be applied.
Nondepository Mortgage Bankers and Brokers Act / N.H. Rev. Stat. Ann. §397-A:6(I)

NMLS Unique Identifier

Licensees must ensure that the NMLS unique identifier of any person originating a residential mortgage loan is 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.
Nondepository Mortgage Bankers and Brokers Act / N.H. Rev. Stat. Ann. §397-A:15(II)

Prepayment Penalty

Any prepayment penalty required of a borrower must be printed in bold type in the note or in any addendum to the note.

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