I. The banking department may issue and serve upon any licensee or person over whom it has jurisdiction a complaint setting forth charges whenever the department is of the opinion that the licensee or person is violating or has violated any provision of this chapter or any rule or order under this chapter.
II. It shall be unlawful for a person not being properly licensed as required by this chapter, to engage in the business of a mortgage banker, mortgage broker, mortgage servicer, or mortgage loan originator.
III. It is unlawful for any person, in connection with the solicitation, offer, processing, underwriting, closing, or 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
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I. The banking department may issue and serve upon any licensee or person over whom it has jurisdiction a complaint setting forth charges whenever the department is of the opinion that the licensee or person is violating or has violated any provision of this chapter or any rule or order under this chapter.
II. It shall be unlawful for a person not being properly licensed as required by this chapter, to engage in the business of a mortgage banker, mortgage broker, mortgage servicer, or mortgage loan originator.
III. It is unlawful for any person, in connection with the solicitation, offer, processing, underwriting, closing, or 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.
IV. 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.
V. The commissioner may, after due notice and opportunity for hearing, take action against an applicant, licensee or other person under the jurisdiction of the department upon finding that the person:
(a) Has violated any provision of this chapter or rules or orders thereunder;
(b) Has not met the standards established in this chapter;
(c) Has accepted or processed loan applications transmitted or brokered by a mortgage broker who is not licensed, and is not exempt from licensing, under this chapter;
(d) Has filed an application for licensing 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;
(e) Has made a false or misleading statement to the commissioner or has materially misstated information in any reports to the commissioner;
(f) Has made fraudulent misrepresentations, has circumvented or concealed, through whatever subterfuge or device, any of the material particulars or the nature thereof required to be stated or furnished to a borrower under the provisions of this chapter;
(g) Has failed to supervise its agents, originators, processors, underwriters, servicers, managers, or employees;
(h) Is the subject of an order entered within the past 5 years by this state, any other state, or federal regulator denying, suspending or revoking a license or registration;
(i) 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 lending or collection activities;
(j) Is not qualified on the basis of such factors as experience, knowledge, and financial integrity;
(k) Has engaged in dishonest or unethical practices in the conduct of the business of making or collecting mortgage loans;
(l) Has violated applicable federal laws or rules thereunder;
(m) Has made an unsworn falsification under RSA 641:3 to the commissioner; or
(n) For other good cause shown.
VI. The commissioner, upon an affirmative finding under paragraph V, may take action in any one or more of the following ways:
(a) Suspend or revoke a license.
(b) Affirm a decision to deny or decline to renew a license.
(c) Order or direct such other affirmative action as the commissioner deems necessary.
(d) Remove or ban from office or employment, including license revocation, any person conducting business under this chapter:
(1) For a violation of this chapter or orders or rules promulgated under this chapter; or
(2) For a violation of federal laws, rules, or regulations; or
(3) If the commissioner determines that such person has been convicted of a felony or misdemeanor that would preclude licensing under this chapter; or
(4) If by a preponderance of evidence the commissioner determines that the person no longer demonstrates the financial responsibility, character, and general fitness such as to command the confidence of the community and to warrant a determination that the person subject to the chapter will operate honestly, fairly, and efficiently within the purposes of the chapter.
(e) Assess penalties as provided in RSA 397-A:20.