I. Mortgage bankers and mortgage brokers may charge fees and points for services rendered in conjunction with the origination, closing, and servicing of loans; provided, however, that the mortgage banker or mortgage broker issues a written disclosure to the borrower stating the estimated amount and purpose of all fees and expenses within 3 business days of the receipt of a loan application. If any fee is collected in advance of the closing of the loan, the mortgage banker or mortgage broker shall provide the borrower with a written explanation of the purpose and disposition of the fee. A mortgage banker or mortgage broker may charge an application fee which may include the direct costs incurred by the mortgage banker or mortgage broker for processing an application, and for a real estate appraisal, a credit bureau report, or income verification or other third party services. Notwithstanding RSA 479:30, a borrower who pays a mortgage banker or mortgage broker a fee for a real estate appraisal report, or who pays an application fee to a mortgage banker or mortgage broker which includes costs for a real estate appraisal, whether designated as a separate fee therefor or not, shall, upon written request, be entitled to obtain from the mortgage banker or mortgage broker who authorized and ordered the appraisal and whose name appears on the appraisal report a copy of the real estate appraisal report. The mortgage banker or mortgage broker shall certify on such copy that it is a true copy of the original report. Such certified copy shall be provided to the borrower within 10 business days of the date the mortgage banker or mortgage broker receives a borrower's request, receives the report from the appraiser, or receives such application or appraisal fee from the borrower, whichever is last to occur. II. Persons subject to the provisions of this chapter shall comply with the provisions of RSA 384:16-c, relative to escrow accounts. III. Persons subject to provisions of this chapter shall comply with the provisions of RSA 479, relative to foreclosure. IV. Pursuant to RSA 397-A:3, only mortgage brokers, mortgage bankers, and mortgage originators licensed under the provisions of this chapter shall be entitled to retain commissions for services rendered. V. In order to issue rate lock commitments, a licensee shall comply with rules adopted by the commissioner.
I. Mortgage bankers and mortgage brokers may charge fees and points for services rendered in conjunction with the origination, closing, and servicing of loans; provided, however, that the mortgage banker or mortgage broker issues a written disclosure to the borrower stating the estimated amount and purpose of all fees and expenses within 3 business days of the receipt of a loan application. If any fee is collected in advance of the closing of the loan, the mortgage banker or mortgage broker shall provide the borrower with a written explanation of the purpose and disposition of the fee. A mortgage banker or mortgage broker may charge an application fee which may include the direct costs incurred by the mortgage banker or mortgage broker for processing an application, and for a real estate appraisal, a credit bureau report, or income verification or other third party services. Notwithstanding RSA 479:30, a borrower who pays a mortgage banker or mortgage broker a fee for a real estate appraisal report, or who pays an application fee to a mortgage banker or mortgage broker which includes costs for a real estate appraisal, whether designated as a separate fee therefor or not, shall, upon written request, be entitled to obtain from the mortgage banker or mortgage broker who authorized and ordered the appraisal and whose name appears on the appraisal report a copy of the real estate appraisal report. The mortgage banker or mortgage broker shall certify on such copy that it is a true copy of the original report. Such certified copy shall be provided to the borrower within 10 business days of the date the mortgage banker or mortgage broker receives a borrower's request, receives the report from the appraiser, or receives such application or appraisal fee from the borrower, whichever is last to occur. II. Persons subject to the provisions of this chapter shall comply with the provisions of RSA 384:16-c, relative to escrow accounts. III. Persons subject to provisions of this chapter shall comply with the provisions of RSA 479, relative to foreclosure. IV. Pursuant to RSA 397-A:3, only mortgage brokers, mortgage bankers, and mortgage originators licensed under the provisions of this chapter shall be entitled to retain commissions for services rendered. V. In order to issue rate lock commitments, a licensee shall comply with rules adopted by the commissioner.
I. Mortgage bankers and mortgage brokers may charge fees and points for services rendered in conjunction with the origination, closing, and servicing of loans; provided, however, that the mortgage banker or mortgage broker issues a written disclosure to the borrower stating the estimated amount and purpose of all fees and expenses within 3 business days of the receipt of a loan application. If any fee is collected in advance of the closing of the loan, the mortgage banker or mortgage broker shall provide the borrower with a written explanation of the purpose and disposition of the fee. A mortgage banker or mortgage broker may charge an application fee which may include the direct costs incurred by the mortgage banker or mortgage broker for processing an application, and for a real estate appraisal, a credit bureau report, or income verification or other third party services. Notwithstanding RSA 479:30, a borrower who pays a mortgage banker or mortgage broker a fee for a real estate appraisal report, or who pays an application fee to a mortgage banker or mortgage broker which includes costs for a real estate appraisal, whether designated as a separate fee therefor or not, shall, upon written request, be entitled to obtain from the mortgage banker or mortgage broker who authorized and ordered the appraisal and whose name appears on the appraisal report a copy of the real estate appraisal report. The mortgage banker or mortgage broker shall certify on such copy that it is a true copy of the original report. Such certified copy shall be provided to the borrower within 10 business days of the date the mortgage banker or mortgage broker receives a borrower's request, receives the report from the appraiser, or receives such application or appraisal fee from the borrower, whichever is last to occur. II. Persons subject to the provisions of this chapter shall comply with the provisions of RSA 384:16-c, relative to escrow accounts. III. Persons subject to provisions of this chapter shall comply with the provisions of RSA 479, relative to foreclosure. IV. Pursuant to RSA 397-A:3, only mortgage brokers, mortgage bankers, and mortgage originators licensed under the provisions of this chapter shall be entitled to retain commissions for services rendered. V. In order to issue rate lock commitments, a licensee shall comply with rules adopted by the commissioner.
