2 hour NH SAFE: New Hampshire Mortgage Lending Laws

​​​​​​​This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in New Hampshire under the New Hampshire Banking Department (NHBD or the Department). This 2-hour course covers New Hampshire specific rules and regulations as mandated by the NHBD, and is required as part of the 20 hours of prelicensure education needed to become a New Hampshire-licensed mortgage loan originator.

Topics and Learning Objectives

This course consists of five modules and a final exam:

• The Basis of New Hampshire Law (20 minutes)
• Getting Licensed in New Hampshire (24 minutes)
• License Maintenance (11 minutes)
• Professional Behavior (23 minutes)
• Disciplinary Actions (12 minutes)
• Final Exam (10 minutes)

Total study time: 2 credit hours

Module 1: The Basis of New Hampshire Law

In this module, we'll explain the basics of New Hampshire mortgage lending laws. We'll cover the New Hampshire Banking Department (NHBD), the Commissioner's authority over the industry, what the NMLS is, and how NH law defines a residential mortgage loan.

Module 2: Getting Licensed in New Hampshire

The professional responsibilities of the mortgage loan originator have a direct, valuable, and immediate impact on New Hampshire's consumers, economy, neighborhoods, and communities as well as the housing and real estate industry. As of 2010, federal statute requires that in order to receive a license, the applicant must:

1. follow the licensure laws of the state, and
2. utilize the systemic process provided by the NMLS.

The intent of these laws is to protect consumers seeking mortgage loans, and to ensure that the mortgage industry can smoothly operate without unfair, deceptive, and fraudulent practices.

In this module, we'll explain the steps necessary to receive authorization in New Hampshire to practice mortgage loan origination activities.

Module 3: License Maintenance

After authorization to practice mortgage loan origination has been granted by the Commissioner, an MLO licensee must renew their license every year. The entire process of license renewal for the New Hampshire mortgage loan originator is completed through the NMLS website. This module will explain a licensee's steps for renewing their MLO license.

Module 4: Professional Behavior

Besides license renewal requirements, mortgage loan originators also have their conduct regulated by New Hampshire law. This module will explain the prohibited acts and practices that will jeopardize a licensee's authorization to conduct residential mortgage lending activities.

Module 5: Disciplinary Actions

When a licensee is discovered to be participating in prohibited acts, the New Hampshire Banking Department can take action against the licensee's license. Depending on the infraction, the action may be a fine or possibly a suspension or revocation of the licensee's authorization to conduct mortgage origination business in this state. In this module, we'll outline the actions the NHBD can take against a licensee.

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID, but don't remember what it is:

• Login into NMLS,
• Click on the Composite View tab, then
• Click View Individual on the sub-header row.
• The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center