New Hampshire § 397-A:11 Record Keeping

New Hampshire Statutes

§ 397-A:11 — Record Keeping

New Hampshire § 397-A:11

Title XXXVBANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS

Ch. 397-ALICENSING OF NONDEPOSITORY MORTGAGE BANKERS, BROKERS, AND SERVICERS

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Bluebook

N.H. Rev. Stat. Ann. § 397-A:11 (2026).

Text

I.The licensee shall maintain such records as will enable the department to determine whether the licensee's business is in compliance with all applicable federal laws and regulations, the laws and rules of this state, and the orders of the commissioner. Records relating to transactions shall be maintained in a readily accessible location and made available for examination for a period of at least 3 years after the licensee's final transaction on a loan or application file. All other business records, including but not limited to financial records, vendor contracts, communications and internal policies, shall be maintained for at least 3 years or as otherwise prescribed by the commissioner.

II.If the licensee retains a mortgage loan in its loan portfolio or services a loan it originated,

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I. The licensee shall maintain such records as will enable the department to determine whether the licensee's business is in compliance with all applicable federal laws and regulations, the laws and rules of this state, and the orders of the commissioner. Records relating to transactions shall be maintained in a readily accessible location and made available for examination for a period of at least 3 years after the licensee's final transaction on a loan or application file. All other business records, including but not limited to financial records, vendor contracts, communications and internal policies, shall be maintained for at least 3 years or as otherwise prescribed by the commissioner.
II. If the licensee retains a mortgage loan in its loan portfolio or services a loan it originated, an adequate loan payment history for such loan shall be made available to the department upon request.
III. If the commissioner or examiner finds any records to be inadequate, or kept or posted in a manner not in accordance with generally accepted accounting principles, the commissioner may employ experts to reconstruct, rewrite, post, or balance them at the expense of the person being examined if such person has failed to maintain, complete, or correct such records after the commissioner or examiner has given him or her written notice and a reasonable opportunity to do so.
IV. A licensee may maintain its records in electronic format if, upon request, the licensee provides the commissioner with:
(a) A full explanation of the programming of any data storage or communications systems in use; and
(b) Information from any books, records, electronic data processing systems, computers, or any other information storage system in the form requested by the commissioner.