July 24, 2014 - J. Spencer Culp Promoted to Director of Trust Supervision
The Banking Department has promoted J. Spencer Culp to serve as Director of Trust Supervision, a newly created position within the Department. Mr. Culp recently worked as a Hearings Officer on issues involving State Chartered Banks, Credit Unions, and nondepository Trust Companies.
July 18, 2014 – Interest Payable on Escrow Accounts Announced
The escrow rate for the period August 1, 2014 through January 31, 2015 is 0.00%.
Pursuant to NH RSA 384:16-c and 384:16-e, Glenn A. Perlow, Bank Commissioner, announced the minimum interest rate payable on moneys on deposit in escrow accounts maintained for the payment of taxes or insurance premiums related to loans on property secured by real estate mortgages.
Said rate shall be 0.00% and shall be effective commencing August 1, 2014 and shall remain in effect until the next rate announcement on January 31, 2015.
July 10, 2014 - CFPB orders ACE Cash Express to stop using unfair, deceptive, and abusive practices to collect consumer debts
The Consumer Financial Protection Bureau (CFPB) has ordered payday loan lender ACE Cash Express to pay $5 million in penalties and $5 million in restitution, for using illegal debt collection tactics – including harassment and false threats of lawsuits or criminal prosecution collect consumer debts. View their Press Release.
NH Residents that may have been harmed are encouraged to call the Department at 603-271-3561.
March 31, 2014 - Consumer Relief Report Published
As part of the National Mortgage Servicers Settlement, the nation's five largest mortgage servicers (Ally / Rescap, Bank of America, Citi, JPMorgan Chase and Wells Fargo) were required to report on their cumulative consumer relief. In March, the Office of Mortgage Settlement Oversight issued its final report, which contained information specific to New Hampshire homeowners who received assistance under the settlement. In total, 1,441 New Hampshire homeowners were assisted. The aggregate amount of relief and benefit received in New Hampshire was $82,282,450. To read the report, visit www.mortgageoversight.com.
February 19, 2014 - NH Banking Department earns Accreditation for Mortgage Regulation
Bank Commissioner Glenn Perlow announced today that the New Hampshire Banking Department has earned accreditation for Mortgage Regulation. View the Press Release .
December 31, 2013 - Upper Valley Commercial Corporation agrees to Cease Operation
The NH Banking Department and the NH Securities Bureau issued Cease & Desist Orders against Upper Valley Commercial Corporation for violating NH State Laws. View the joint press release issued . View the Banking Department Order. View the Securities Bureau Order.
December 19, 2013 - Ocwen Financial Corporation Ordered to Provide Relief to Homeowners.
The New Hampshire Banking Department has joined regulators from 48 other states, the District of Columbia and the Consumer Financial Protection Bureau in filing a court order that requires Ocwen to provide $2 billion in principal reduction relief to underwater homeowners for mortgage servicing misconduct. Ocwen must also refund $125 million to foreclosed borrowers and adhere to significant new servicing requirements that will protect homeowners from abusive behavior. See the CFPB Press Release. Affected homeowners are encouraged to review these FAQs about the procedure to seek payment .
Other Documents and Pages of Interest
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fax: (603) 271-1090 or (603) 271-0750