Bill Text: NH HB613 | 2011 | Regular Session | Introduced

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Bill Title: Establishing exemptions from the licensing requirements for first mortgage bankers and brokers.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Failed) 2011-03-15 - House Inexpedient to Legislate: Motion Adopted Voice Vote; House Journal 26, PG.705 [HB613 Detail]

Download: New_Hampshire-2011-HB613-Introduced.html

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HB 613 – AS INTRODUCED

2011 SESSION

11-0652

09/04

HOUSE BILL 613

AN ACT establishing exemptions from the licensing requirements for first mortgage bankers and brokers.

SPONSORS: Rep. Sapienza, Rock 8; Rep. Sedensky, Rock 8; Rep. Hess, Merr 9

COMMITTEE: Commerce and Consumer Affairs

ANALYSIS

This bill establishes new exemptions from the licensing requirements for first mortgage bankers and brokers.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

11-0652

09/04

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Eleven

AN ACT establishing exemptions from the licensing requirements for first mortgage bankers and brokers.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 First Mortgage Bankers and Brokers; Licensing Exemptions. Amend RSA 397-A:4, III to read as follows:

III. Any [individual] person who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the [individual] person.

III-a. Any person making not more than 4 first mortgage loans within any calendar year with the person’s own funds and for the person’s own investment without an intent to resell such mortgage loans.

III-b. Any individual licensed to practice law in this state, when such individual renders services in the course of practice as an attorney at law to any person engaged in the transactions described in RSA 397-A:4, III and III-a.

2 Effective Date. This act shall take effect 60 days after its passage.