News and Events
New Guide Released to Help Prevent Elder Financial Abuse
November 12, 2021
The Consumer Financial Protection Bureau has released a
new guide to help family members and friends of people living in nursing homes and assisted living communities learn how to prevent and report elder financial abuse. The guide lists red flags to watch for, shares common scenarios, and includes resources.
Download or
order the new guide for free. There is also a
“quick reference” handout focused on how to report elder financial abuse.
Early NMLS Renewals Encouraged Amid Increase in Eligible Licensees
October 29, 2021
All Consumer Credit Licensees are encouraged to start renewing their licenses in the Nationwide Multistate Licensing System (NMLS) starting November 1 to avoid licensing delays. There has been a significant increase in the number of licensed individuals and businesses from this time last year. The renewal period in New Hampshire is open from November 1 to December 31.
October is Cyber Security Awareness Month
September 29, 2021
Cybersecurity Awareness Month is an annual observation that encourages consumers and businesses to take steps to protect themselves from cyberattacks. The theme of Cybersecurity Awareness Month 2021 is “Focusing on the Fundamentals.”
Cybersecurity breaches are not always the act of sophisticated hackers and foreign agents. Most successful cyberattacks are caused by a failure to follow well-established cybersecurity practices. To ensure your institution is following these best practices, we encourage you to take steps to collaborate with your regulators and your peers.
For more information and additional resources about being cyber-secure please visit: Keep My Bank Secure, the Conference of State Bank Supervisors Ransomware Self-Assessment Tool, the US Government’s Stop Ransomware initiative, and the Cybersecurity & Infrastructure Security Agency (Cybersecurity Awareness Month | CISA).
Informative videos: ANATOMY OF A CYBER ATTACK - KeepMyBankSecure.com - YouTube and Cybersecurity Strategies with Phillip Hinkle, Director of IT Security Examinations with the Texas Department of Banking, and Trey Maust, Executive Chairman of Lewis & Clark Bank (Cybersecurity Strategies - featuring Phillip Hinkle and Trey Maust - YouTube).
House Bill 610 effective October 9, 2021
September 14, 2021
Examination Per Diem Fee Change
September 7, 2021
Pursuant to state law and the Department's policy and procedure, the per diem fee for all state-chartered banks, credit unions, trust companies, and family trust companies has been calculated to be $908. Similarly, the per diem fee for all entities licensed under consumer credit laws has been calculated to be $934. This new per diem fee will be charged for all examinations commencing on or after October 1, 2021.
View Chartered Entity Memorandum and Licensed Entity Memorandum.
House Bill 312 effective July 24, 2021
July 30, 2021
The passage of New Hampshire House Bill 312 became effective July 24, 2021. Please review the bill for any changes relative to banking department statutes. View
House Bill 312 here.
Remote Work For Mortgage Loan Originator Licensees
July 30, 2021
The New Hampshire Banking Department ("Department") has issued guidance to clarify the requirements applicable to New Hampshire licensed mortgage loans originators (MLOs) who work remotely from alternative locations including their home. This guidane supersedes any previous guidance issued on this topic. View the
Department's Guidance here.
Interest Payable on Escrow Accounts Announced
July 30, 2021
Pursuant to NH RSA 383-B:3-303(a)(7)(E), Gerald H. Little,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, 2021 and shall remain in effect until House Bill 610 becomes effective.
New Fed Mortgage Corp. Ransomware Attack
June 22, 2021
The New Hampshire Banking Department has been notified by New Fed Mortgage Corp. (“NewFed”) that it has suffered a ransomware attack that resulted in unauthorized access to its systems. As a result of the attack, an unauthorized individual gained access to the personal information of 2,021 New Hampshire consumers. On June 21, 2021, NewFed mailed a written notification to consumers affected by the attack. If you are a customer of NewFed Mortgage and you have questions about this incident, please call NewFed directly at 1-888-365-7345 between the hours of 9:00 am to 6:00 pm Eastern Time, Monday through Friday.
Nationstar Mortgage LLC d/b/a Mr Cooper experiences Payment Processing Issue
April 27, 2021
On April 24, 2021, Nationstar Mortgage LLC d/b/a Mr. Cooper discovered that a payment processing issue resulted in a number of customers experiencing incorrect mortgage payment drafts from their bank account. This was a payment processing transaction error and neither consumer bank accounts, nor Mr. Cooper’s systems or accounts were compromised. All unauthorized charges are being corrected. This issue was expected to be resolved by the end of the day, April 26, 2021.
For more specific information about this issue please see the website set up by Nationstar Mortgage LLC d/b/a Mr. Cooper at https://www.mrcooper.com/blog/2021/04/26/payment-information-center/.
Interest Payable on Escrow Accounts Announced
February 1, 2021
The escrow rate for the period February 1, 2021 through July 31, 2021 is 0.00%.
Pursuant to NH RSA 383-B:3-303(a)(7)(E), Gerald H. Little, 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 February 1, 2021 and shall remain in effect until the next rate announcement on August 1, 2021.
Attorney General and New Hampshire Banking Commissioner Jointly Announce Settlement with Nationstar Mortgage LLC
December 10, 2020
Attorney General Gordon J. MacDonald and New Hampshire Bank Commissioner Gerald H. Little announce that their agencies have joined with 52 other state regulators, 51 state attorneys general and the federal Consumer Financial Protection Bureau (CFPB) in a settlement agreement with Nationstar Mortgage LLC, d/b/a Mr. Cooper, one of the largest mortgage servicers in the nation, closing a multiyear investigation of the company.
The Joint Press Release may be found at: [https://www.doj.nh.gov/news/2020/20201210-nationstar-settlement.htm].
The settlement agreement and consent order may be found at: [www.csbs.org/2020-settlement-agreement-and-consent-order].
Mortgage Payment Relief Information
October 20, 2020
On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help consumers struggling with financial hardship due to the COVID-19 pandemic.
For consumers experiencing financial hardship that has made it difficult to maintain your mortgage payments, the following link provides important information about your rights to mortgage payment forbearance and foreclosure protection under the CARES Act.
https://www.csbs.org/system/files/2020-05/CSBS-CFPB_Consumers_Forbearance_Guide_May_2020_0.pdf
Please review this information carefully and reach out to your servicer for assistance with making your loan payments.
If you are having difficulty working with your servicer, you may contact the Department at 603-271-3561 for assistance with understanding your rights under the CARES Act.
Examination Per Diem Fee Change
September 3, 2020
Pursuant to state law and the Department's policy and procedure, the per diem fee for all state-chartered banks, credit unions, trust companies, and family trust companies has been calculated to be $1,074. Similarly, the per diem fee for all entities licensed under consumer credit laws has been calculated to be $955. This new per diem fee will be charged for all examinations commencing on or after October 1, 2020.
View Chartered Entity Memorandum and Licensed Entity Memorandum.
Interest Payable on Escrow Accounts Announced
July 31, 2020
The escrow rate for the period August 1, 2020 through January 31, 2021 is 0.00%.
Pursuant to NH RSA 383-B:3-303(a)(7)(E), Emelia A.S. Galdieri, Deputy 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, 2020 and shall remain in effect until the next rate announcement on February 1, 2021.
The Consumer Financial Protection Bureau and the Conference of State Bank Supervisors Issue Joint Guidance for Mortgage Servicers
June 5, 2020
The Consumer Financial Protection Bureau and the Conference of State Bank Supervisors have issued joint guidance for mortgage servicers that outlines servicing requirements for federally backed mortgages during the COVID-19 Outbreak. This guidance includes requirements under the CARES Act, federal regulations, and investor servicing guidelines. The guidance includes Q&As about servicing requirements. See this guidance at this link:
https://www.csbs.org/cares-act-forbearance-foreclosure
Guidance on the Reopening of Branches or Other Financial Institution Offices Previously Closed Due to the Novel Coronavirus 2019 (COVID-19) Pandemic
May 28, 2020
The New Hampshire Banking Department is providing guidance concerning the reopening of branches or other financial institution offices that were temporarily closed due to the COVID-19 pandemic. View the
Updated Guidance.
Consumer Guide on Mortgage Relief Options
May 15, 2020
The Conference of State Bank Supervisors ("CSBS") and the Consumer Financial Protection Bureau ("CFPB") released a Consumer Relief Guide with borrowers’ rights to mortgage payment forbearance and foreclosure protection under the federal CARES Act. View the link for information about your options for mortgage relief during the COVID-19 pandemic. Links are provided to explain what assistance is available under the CARES Act, how to file a consumer complaint, and other helpful information. [
PDF] [
link]
U.S. Secret Service and U.S. Department of the Treasury Issues Guidance on Counterfeit COVID-19 Relief Checks
April 21, 2020
Guidance on Paycheck Protection Program and the Legal Lending Limit
April 3, 2020
On March 27, 2020, the President signed the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). Section 1102 of the CARES Act establishes the Paycheck Protection Program as a Small Business Administration 7(a) Loan Program. The Paycheck Protection Program provides loans to entities to enable them to cover payroll costs and other costs associated with payroll during the COVID-19 state of emergency. For further details about the Paycheck Protection Program, please visit the Small Business Administration website:
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options.
The New Hampshire Banking Department has received requests for guidance from state-chartered banks as to whether loans made under the Paycheck Protection Program are exempt from the legal lending limit in RSA 383-B:3-303(a)(7)(A). For the reasons outlined in this
Guidance, loans made under the Paycheck Protection Program are exempt from the legal lending limit in RSA 383-B:3-303(a)(7)(A).
COVID-19 Temporary Branch Closures
April 3, 2020
Financial institutions are considered an essential business and remain open during the stay-at-home order. Please visit your financial institution’s website regarding changes in branch hours and branch closures. Many financial institutions have temporarily closed their lobbies but banking services are available through the drive-thru, ATM, or by appointment.
View the list of COVID-19 temporary branch closures.
FAQ's on Mortgage Foreclosures during the COVID-19 Pandemic
March 31, 2020
New Hampshire Attorney General's Charitable Trusts Unit Issues Scam Alert as a result of the COVID-19 Outbreak
March 26, 2020
U.S. Attorney Urges the Public to Report Suspected Fraud Related to the COVID-19 Outbreak
March 23, 2020
U.S. Attorney Scott W. Murrary of the District of New Hampshire today urged the public to report suspected fraud schemes related to COVID-19 (the Coronavirus) by calling the National Center for Disaster Fraud (NCDF) hotline (1-866-720-5721) or to the NCDF e-mail address disaster@leo.gov. The public can also report fraud to the FBI's Internet Crime Complaint Center at www.IC3.gov. View the Press Release.
To find more about Department of Justice resources and information, please visit www.justice.gov/coronavirus.
Consumer Alert - Checks from the Government
March 18, 2020
The Federal Trade Commissioner ("FTC") warns consumers to be aware of scammers asking you to pay to get your government issued check. FTC article Checks from the Government.
Be aware of this as well as other Coronavirus-related scams. Visit ftc.gov.
Updated Guidance on Branch Closings and FAQs related to Novel Coronavirus 2019 (COVID-19)
March 16, 2020
The New Hampshire Banking Department is providing further clarification on its guidance issued on March 13, 2020, concerning branch closings resulting from the COVID-19 pandemic.
View Commissioner's Updated Memorandum.
Responding to Impacts of the Novel Coronavirus 2019 (COVID-19)
March 13, 2020
Interest Payable on Escrow Accounts Announced
February 3, 2020
The escrow rate for the period February 1, 2020 through July 31, 2020 is 0.00%.
Pursuant to NH RSA 383-B:3-303(a)(7)(E), Gerald H. Little,
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 February 1, 2020 and shall remain in effect until the next rate announcement on August 1, 2020.
Request for Proposals
January 21, 2020
May 29, 2020
Request for Proposal Award
In response to the State Banking Commissioner Gerald H. Little’s and the PDIP Advisory Committee’s request for proposals to provide investment advisory and investment management services to the Pool, the Banking Department received one (1) proposal. The proposal was submitted by PFM Asset Management, LLC. The PDIP Advisory Committee reviewed the proposal on April 9, 2020, awarding PFM a score of 99.25% (119 points of 121 possible total points).
State Banking Commissioner Gerald H. Little and the PDIP Advisory Committee, on behalf of the Pool, are seeking competitive proposals from qualified providers to provide investment advisory and investment management services to the Pool. Deadline for final submission of proposals is Friday, February 21, 2020 at 3:00 p.m. EST. Late submissions will not be accepted. The Commissioner and the Committee anticipate the contract will be awarded in April. The contract would commence on June 22, 2020, for a period of up to five years.
The RFP may be found at: https://www.nh.gov/banking/bank-cu-trust/nh-public-depst-invest-pool.htm.
Examination Per Diem Fee Change
October 1, 2019
Pursuant to state law and the Department's policy and procedure, the per diem fee for all state-chartered banks, credit unions, trust companies, and family trust companies has been calculated to be $1,102. Similarly, the per diem fee for all entities licensed under consumer credit laws has been calculated to be $939. This new per diem fee will be charged for all examinations commencing after today's date.
View Chartered Entity Memorandum and Licensed Entity Memorandum.
Consumer Credit Division Accreditation
July 29, 2019
The New Hampshire Banking Department’s Consumer Credit Division (CCD) has received reaccreditation by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR). The CSBS/AAMR Mortgage Accreditation Program identifies agencies that serve the citizens of their State by demonstrating the adoption and use of professionally implemented best practices to protect consumers while maintaining a fair and competitive mortgage services market.
“CCD director Raeleen Schutte and her staff went through a rigorous survey and examination process that tested not just historical performance but proper planning for guiding this ever-changing industry. This accreditation was hard-earned,”, said Bank Commissioner Jerry Little. “Director Schutte has built the Consumer Credit Division into a strong and effective as well as compassionate team and we are all very proud to see their hard work recognized by this highly-regarding national accreditation program.”
Changes to Trust Company Annual Report Requirements
July 26, 2019
On July 10, 2019, Governor Sununu signed NH
House Bill 474 and
House Bill 450. These bills included important elements affecting trust companies and family trust companies. All New Hampshire chartered trust companies and family trust companies are encouraged to review the bills as many sections have already taken effect. View
Department Notice.
Settlement with CashCall, Inc., et al.
July 22, 2019
Bank Commissioner Gerald Little announces that the Banking Department has entered into a consent order with Respondents CashCall, Inc., WS Funding, LLC and the President and CEO of CashCall, Inc. and WS Funding, LLC, John Paul Reddam. View
Press Release and
Consent Order.
For additional information please visit
www.nhcashcallsettlement.com.
Examination Per Diem Rate Increase - Effective Immediately
March 15, 2019
Pursuant to state law and the Department's Per Diem Calculation Policy and Procedure, the per diem rate for all state-chartered banks, credit unions, trust companies, and family trust companies has been calculated to be $1,098. Similarly, the per diem rate for all entities licensed under consumer credit laws has been calculated to be $925. This new per diem rate will be charged for all examinations commencing after today's date.
View Chartered Entity Memorandum and Licensed Entity Memorandum.
Responding to Impacts of the Partial Shutdown of Federal Government
January 10, 2019
The New Hampshire Banking Department encourages banks, credit unions, and licensed mortgage lenders to work constructively and prudently with federal employees and other consumers experiencing financial difficulties beyond their control because of the partial shutdown of the federal government. View Banking's Press Release
Federal regulators respond to the partial government shutdown. View the Federal Press Release
Guidance on Senate Bill 91
August 6, 2018
The Department issued Bulletin NHBD 2018-01 to provide guidance on Senate Bill 91, which amends RSA 399-A:19, II-III, effective August 7, 2018. Senate Bill 91 addresses title loan renewals.
View Bulletin NHBD 2018-01
Consumer Complaint/Inquiry Process Update
August 2, 2018
Department Joins Multi-State Settlement with PHH Mortgage Corporation
January 3, 2018
The New Hampshire Banking Department joined financial regulators from 46 other states today to announce a legal settlement with PHH Mortgage Corporation (NMLS #2726). The settlement will assist borrowers harmed by substandard mortgage servicing practices conducted by PHH Mortgage between 2009 and 2012. These deficiencies were identified during a multi-state examination of the company. View the Department's press release
"Cryptocurrency” Transmitters No Longer Supervised
August 1, 2017
Certified Public Manager Graduates
July 5, 2017
Congratulations to NHBD's Director of Operations, Dawn Allen and Licensing Supervisor, Nancy Burke, both recent graduates of the Certified Public Manager Program, a nationally accredited program designed to improve the performance of public sector managers and the organizational performance of the state.
Deputy Commissioner announced at Banking Department
April 24, 2017
April 20, 2017
The U.S. Consumer Financial Protection Bureau has announced legal action against Ocwen Financial Corporation and its subsidiaries alleging gross misconduct in the servicing of millions of home mortgages nationwide. Ocwen services many thousands of home loans for New Hampshire consumers. For more information about this action and how it might affect you or your Ocwen-serviced loan,
visit the CFPB website or call the New Hampshire Banking Department at 1-800-437-5991.
For general information on mortgage servicers visit the Federal Trade Commission.
