New Hampshire Mortgage Lending Practices and Disclosures
Application and disclosures
New Hampshire expects state and federal disclosures to work together. Use the Loan Estimate and Closing Disclosure, TILA APR and finance-charge disclosures, and RESPA servicing and escrow notices; add New Hampshire high-cost notices and license identification. Before performing broker services, obtain a written agreement that states the services and the fee. Give the borrower the MLO unique identifier and NMLS Consumer Access information.
Servicing and payoff
Servicers must apply payments, maintain escrow, respond to borrower requests, and provide payoff statements under the applicable statute. When a mortgage is satisfied, the mortgagee must discharge it and record the release; failure can expose the lender to penalties. Keep records for the required retention period and make them available to the Department.
Advertising and records
Advertising must not be false or misleading; include the licensed name and unique identifier where required. Retain loan files, disclosure acknowledgments, fee agreements, and advertising copies.
Worked example: A borrower submits a written payoff request. The servicer quotes a payoff that omits a pending disbursement, then refuses to correct it before closing. The closing is delayed. The servicer's failure to provide an accurate payoff statement within the required period is a servicing violation; the file should show the request date, the response, and the correction. The originator should not tell the borrower to close now and sort it out later.
Traps
Do not substitute a verbal fee quote for the written broker agreement. Do not assume the Closing Disclosure replaces the state high-cost notice. Do not miss the distinction between application, approval, and closing dates for disclosure timing.