Licensing and Regulation of New Hampshire Mortgage Loan Originators
License path
MLO licensing runs through NMLS and the Banking Department under RSA 397-B. The standard path is 20 hours of prelicensing education, passing the SAFE MLO test, submitting an FBI criminal background check and credit report, paying fees, and being sponsored by a licensed mortgage banker or broker or an exempt entity. The license is individual; the sponsoring company must also hold the correct entity license.
Ongoing duties
Renew annually through NMLS, complete 8 hours of continuing education including New Hampshire-specific law, keep sponsorship and employment information current, use the unique identifier on solicitations, and notify the Department of material changes. A license may be denied, suspended, revoked, or conditioned for fraud, felony convictions, dishonest dealings, loss of sponsorship, or failure to cooperate with an examination.
Supervision and discipline
The Commissioner can investigate, subpoena records, hold hearings, impose civil penalties, and issue cease-and-desist orders. Unlicensed origination is not cured by having a licensed employer.
Worked example: An MLO leaves Broker A on Friday and starts at Broker B on Monday. The MLO submits a sponsorship change in NMLS, but the license shows inactive until Broker B's sponsorship is accepted. The MLO may market to borrowers and take applications only after authorization; otherwise the MLO and Broker B face unlicensed-activity exposure. Processing or clerical work may be performed by unlicensed staff, but taking an application, offering terms, or negotiating requires a licensed MLO.
Traps
Temporary authority is limited; do not assume it applies to every move. CE completed after the deadline may not cure a lapsed license. A branch is not licensed merely because the main office is licensed.