New Hampshire Mortgage Broker Bonds

License Overview

Mortgage Brokers in this state are regulated by the Banking Department of the State of New Hampshire. Recently New Hampshire changed their licensing laws. The state used to require a separate license and application for First and Second Mortgages. Now you need only one application in order to write both First and Second Mortgages.

If you would like to write First and Second Mortgages you need to have a Surety Bond in the amount of $20,000 and it must be continuous in nature. If the applicant’s net worth is below $100,000 or should fall below $100,000 at any time the Surety Bond Requirement will be $100,000.

You will need to provide full disclosure of financial statements, income, and any outstanding liabilities. There will also be an extensive credit and criminal background check.

Bad Credit New Hampshire Mortgage Broker Bonds

New Hampshire License Requirements

Age: 18

State Residency: Not Required

Experience: 3-5 years background in Mortgage Industry preferred

Education: None

Continuing Education: None

Net Worth: $100,000

Surety Bond: $20,000 or $100,000

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Background Check: Criminal & credit

New Hampshire State Licensing Fees

Initial Application: $500

Branch Location: $500

Renewal Application: $500

Branch Offices:

In State Requirements: Must have a designated person responsible for transactions of the company.

Licensure Requirements: Each branch office must be licensed

Exemptions:

Entities: Attorney, Banks, Credit Union, and State or Federal departments

Safe Harbor: None

*This Information for licensing is provided only as a quick reference, make sure you contact the state to verify all information prior to making your application.

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