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Below you will find information on the following
topics for New Hampshire: Mortgage Broker Licensing, Mortgage
Broker Training, Mortgage Broker License Requirements, New Hampshire
Mortgage Laws and Regulations, Mortgage Broker Schools, etc.
If you would like to find information about another state then
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New Hampshire Mortgage License and Education Information |
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The Consumer Credit Department of the State of New Hampshire Banking Department regulates the New Hampshire Mortgage Broker Licensing. Any person not exempt under RSA 397-A:4 (Licensing of Non-depository First Mortgage Bankers and Brokers) that, in its own name or on behalf of other persons, engages in the business of making or brokering first mortgage loans secured by real property located in this state are required to obtain a license from the banking department.
The following information is required to obtain a New Hampshire Mortgage Broker License:
- Submit a completed and signed application along with the stipulated application fee and other relevant documents to the department.
- The license issued by the department shall be only for principal office. Separate application is to be filed for obtaining branch office licenses.
- The applicant is required to submit to the banking department detailed financial information sufficient for the commissioner to determine the applicant's ability to conduct the business of a mortgage banker or a mortgage broker with financial integrity.
- A statement of net worth must also be enclosed with the application.
- Each mortgage broker must post a continuous surety bond in the amount of $20,000 to the commissioner.
- A list of all individuals, and the address of the work location of each such individual, who will act as originators for the licensee must be furnished along with the application.
- It is required that the principal office of the applicant must be in the state of New Hampshire. Applicants whose principal place of business is located outside New Hampshire must appoint a New Hampshire agent.
- A mortgage broker license expires on December 31 of each calendar year. Licenses can be renewed by paying the required renewal fee on or before December 1 for the ensuing year that begins on January 1.
- Provide recent financial statements of the applicant along with the application. Also provide a copy of recent federal business income tax returns.
- Submit copies of resumes of senior management personnel and branch managers.
- Currently, there are no specific educational or experience requirements for obtaining a mortgage broker license.
- Applicants with a foreign origin such as foreign corporation, foreign partnership and so on must provide a copy of their home state registration and proof of registration issued by the New Hampshire Secretary of State.
For more information, visit New Hampshire Bank Commissioner's Office - Consumer Credit Division.
For online forms and applications, click First Mortgage Broker and Banker Application Information.
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Major Cities Include: Manchester, Nashua, Concord, Rochester, Salem, Dover, Merrimack, Derry, Keene, Portsmouth, Bedford, Laconia, Claremont, Lebanon, Somersworth, Londonderry
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