Course and Package Description
Course
Price
2 Hour Online SAFE PE – New Hampshire State Law
(Note: Starting November 1st, 2019, only State Law Specific
Pre-licensing classes will be Online Self Study)
Summary
This 2 hour course covers New Hampshire law and regulations relevant to Mortgage Loan Originators (MLOs) and is structured to reflect the outline of the New Hampshire Notice regarding New State-Specific Pre-Licensure Requirements. This course covers New Hampshire Mortgage law that must be met as a condition for obtaining a MLO license with the New Hampshire Banking Department (NHBD) beginning January 1, 2015.
Our Unique Modular Lesson Plan. We offer a unique experience by breaking our course down into modules of 2 and 5 hours, each of which can be started at any of defined start times in the course calendar. A couple of example study plans may be:
- Example A: A person new to the industry decides to progress in the recommended order over a two week period.
- Example B: An industry veteran finishes all 20 hours in three days, taking the federal law courses first.
Description
New Hampshire Banking Department
(http://www.nh.gov/banking/)
New Hampshire Banking Statutes
Title XXXV Banks and Banking; Loan Associations; Credit Unions
Chapter 383, Bank Commissioner
(http://gencourt.state.nh.us/rsa/html/NHTOC/NHTOC-XXXV-383.htm)
New Hampshire Banking Statutes
Title XXXV Banks and Banking; Loan Associations; Credit Unions
Chapter 397-A: Licensing of Nondepository Mortgage Bankers and Brokers
(http://gencourt.state.nh.us/rsa/html/NHTOC/NHTOC-XXXV-397-A.htm)
The course is divided into five sections:
Section 1: Overview and Definitions.Outlines the purpose and authority of each law and sets forth definitions used throughout both laws.
Section 2: New Hampshire Banking Department. Covers the New Hampshire Banking Department, its authority as a regulatory arm and the banking commissioner who leads the department ensuring compliance.
Section 3: License Law and Regulation.Covers prohibited acts and practices with respect to lending and broker activity and usury statutes.
Section 4: Compliance. Covers permitted charges, high rate/high point loans, funded settlements, financial privacy, trigger lead solicitations and home loan escrow accounts.
Section 5: Disciplinary Action.Covers non-discrimination, debt protection agreements, reverse mortgages, the New Hampshire Consumer Fraud Act, fair credit reporting and unlicensed loan transactions.
Learning Objectives
Upon successful completion of this course you will have a strong understanding of the laws and regulations specific to mortgage loan originators and lenders in the state of New Hampshire.