Section 397-B:3 Administration by Commissioner; Rulemaking.
I. The commissioner shall administer and enforce the provisions of this chapter and, pursuant to RSA 541-A, shall adopt such rules as the commissioner deems necessary to the administration and enforcement of this chapter.
II. The commissioner may prepare, alter, or withdraw such forms as are necessary to comply with the provisions of this title.
III. The commissioner may issue, amend, or rescind such orders as are reasonably necessary to carry out the provisions of this chapter.
IV. The commissioner may require such regular or special reports as the commissioner deems necessary to the proper supervision of registrants under this chapter.
V. The commissioner may, for good cause shown, abate all or a portion of delinquency penalties assessed under this chapter.
VI. All actions taken by the commissioner pursuant to this chapter shall be taken only when the commissioner finds such action necessary or appropriate to the public interest or for the protection of consumers and consistent with the purposes fairly intended by the policy and provisions of this title.
VII. If the commissioner finds that any registrant or applicant for registration is no longer in existence or has ceased to do business as a mortgage servicing company, or cannot be located after reasonable search, the commissioner may by order revoke the registration, impose penalties, or deny the application. The commissioner may deem abandoned and withdraw any application for registration made pursuant to this chapter, if any applicant fails to respond in writing within 180 calendar days to a written request from the commissioner requesting a response. Such request shall be sent via certified mail to the last known address of the applicant that is on file with the commissioner.
VIII. The commissioner may issue an order requiring a person to whom any registration has been granted or any person under the commissioner's jurisdiction to show cause why the registration should not be revoked or penalties should not be imposed, or both, for violations of this chapter. The order shall give reasonable notice of the opportunity for a hearing and shall state the reasons for the issuance of the order. The commissioner may by order summarily postpone or suspend any application or registration pending final determination of any order to show cause, cease and desist, or other order, or of any other proceeding under this section, provided the commissioner finds that the public interest would be irreparably harmed by delay in issuing such order. A registration may be revoked for violations of this chapter or any rule or order thereunder. The commissioner may issue a cease and desist order against any registrant or person whom he or she has reasonable cause to believe is in violation of the provisions of this chapter or any rule or order under this chapter. Upon entry of an order, the commissioner shall promptly notify the respondent, applicant, or registrant that the order has been entered and of the reasons for the order and that within 10 calendar days after receipt of a written request the matter will be scheduled for hearing. Valid delivery of such orders shall be by hand or certified mail at the last known principal office of the applicant, registrant, or respondent or to an officer, director, 5 percent or more owner, member, partner, or legal representative of the registrant, applicant, or respondent. If the person to whom an order to show cause, cease and desist, or other order is issued fails to request a hearing within 30 calendar days of receipt or valid delivery of the order and no hearing is ordered by the commissioner, then such person shall be deemed in default and the order shall, on the thirty-first day, become permanent, and shall remain in full force and effect until and unless later modified or vacated by the commissioner, for good cause shown. A hearing, if requested, shall be scheduled not later than 10 calendar days after the written request for such hearing is received by the commissioner after which and within 20 calendar days from the date of the hearing the commissioner shall enter an order making such disposition of the matter as the facts require. If the licensee or respondent fails to request a hearing within 30 calendar days of receipt or valid delivery of such order or fails to appear at a hearing after being duly notified, or cannot be located after a reasonable search, such person shall be deemed in default and the proceeding may be decided against the person upon consideration of the order to show cause, cease and desist, or other order, the allegations of which may be deemed to be true.
VIII-a. If any person refuses to obey the commissioner's order, an action may be brought by the attorney general on the commissioner's behalf in any superior court in this state to enjoin such person from engaging in or continuing such violation or from doing any act or acts in furtherance of such violation. In any such action, an order or judgment may be entered awarding a temporary or permanent injunction, and awarding the commissioner or the attorney general or both costs in bringing such action. The court shall have the power to enforce obedience to such injunction, in addition to all of the court's customary powers, by a fine not exceeding $10,000 or by imprisonment, or both.
IX. The commissioner may by order, after notice and opportunity for hearing, assess penalties and deny, suspend, or revoke any registration or application, and bar any person from registration if the commissioner finds that the order is in the public interest and the applicant or registrant, any partner, officer, member, or director, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the applicant, respondent, or registrant:
(a) Has filed an application for registration which as of its effective date, or as of any date after filing in the case of an order denying effectiveness, was incomplete in any material respect or contained any statement which was, in light of the circumstances under which it was made, false or misleading with respect to any material fact;
(b) Has made a false or misleading statement to the commissioner or in any reports to the commissioner;
(c) Has failed to supervise its agents, managers, or employees;
(d) Is the subject of an order entered within the past 5 years by the state, any other state, or federal regulator denying, suspending or revoking licenses or registration;
(e) Is permanently, preliminarily, or temporarily enjoined by any court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of mortgage servicing or collection activities;
(f) Has engaged in dishonest or unethical practices in the conduct of the business of servicing or collecting mortgage loans;
(g) Has violated this chapter or any rule or order thereunder or has violated applicable federal laws or rules thereunder;
(h) Has made an unsworn falsification under RSA 641:3 to the commissioner; or
(i) For other good cause shown.
X. It is unlawful for any person, in connection with the servicing of a mortgage loan, directly or indirectly:
(a) To employ any device, scheme, or artifice to defraud;
(b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading; or
(c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.
XI. It is unlawful for any person to make or cause to be made in any document filed under this chapter or in any proceeding under this chapter any statement which is, at the time and in the light of the circumstances under which it is made, false or misleading in any material respect or, in connection with such statement, to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading.
XII. Any condition, stipulation, or provision binding any person to waive compliance with any provision of this chapter or any rule or order under this chapter is void.
Source. 1995, 207:1. 2003, 313:22. 2004, 139:21, 22. 2005, 255:56, 82-84, eff. Sept. 12, 2005. 2008, 205:26, 27, eff. Aug. 15, 2008. 2009, 204:2, eff. Sept. 13, 2009.