New Hampshire § 397-A-8 - Section 397-A:8 License Term; Renewal.

§ 397-A-8. Section 397-A:8 License Term; Renewal.

I. Each mortgage banker, mortgage broker, or mortgage servicer license shall remain in force until it has been surrendered, revoked, or suspended, or terminates or expires in accordance with the provisions of this chapter. Each license shall expire on December 31 of each calendar year. II. If a person holds a valid mortgage banker, mortgage broker, or mortgage servicer license under this section and is in compliance with this chapter and the rules thereunder, such licensee may renew the license by paying the required fee to the banking department on or before December 1 for the ensuing year that begins on January 1. Failure to renew the license shall result in the license terminating on December 31. II-a. The initial license term shall begin on the day the application is approved. The license shall expire on December 31 of the year in which the license term began, unless the initial license date is between November 1 and December 31, in which instance the initial license term shall run through December 31 of the following year. III. A mortgage banker, mortgage broker, or mortgage servicer renewal fee of $500 for the principal office license and each branch office license shall be submitted with the application for license renewal. IV. No application for renewal of a mortgage banker, mortgage broker, or mortgage servicer license shall be denied without reasonable cause and the right of appeal pursuant to RSA 541-A and RSA 541.