Bill Text: NH SB314 | 2018 | Regular Session | Enrolled
Bill Title: Relative to regulation of mortgage bankers, brokers, servicers, and originators.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2018-06-13 - Signed by the Governor on 06/08/2018; Chapter 0211; Effective 08/07/2018 [SB314 Detail]
Download: New_Hampshire-2018-SB314-Enrolled.html
SB 314 - VERSION ADOPTED BY BOTH BODIES
03/21/2018 1089s
05/03/2018 1844EBA
2018 SESSION
18-2807
03/01
SENATE BILL 314
AN ACT relative to regulation of mortgage bankers, brokers, servicers, and originators.
SPONSORS: Sen. French, Dist 7
COMMITTEE: Commerce
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AMENDED ANALYSIS
This bill exempts from regulation as a mortgage banker, mortgage broker, mortgage servicer, or mortgage originator certain individuals who are not regularly engaged in such activities.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03/21/2018 1089s
05/03/2018 1844EBA 18-2807
03/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eighteen
AN ACT relative to regulation of mortgage bankers, brokers, servicers, and originators.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Subparagraph; Mortgage Bankers, Brokers, Servicers, or Originators; Application of Chapter. Amend RSA 397-A:2, I by inserting after subparagraph (c) the following new subparagraph:
(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.
2 Effective Date. This act shall take effect 60 days after its passage.
