CHAPTER 140
SB 99 – FINAL VERSION
04/03/03 0995s
07Jan2004… 2468h
2004 SESSION
06/09
SENATE BILL 99
AN ACT relative to compliance with federal law in the making of first and second mortgage loans.
SPONSORS: Sen. Flanders, Dist 7; Sen. Clegg, Dist 14; Sen. Johnson, Dist 2; Sen. D’Allesandro, Dist 20
This bill requires first and second mortgage brokers to comply with the provisions of the Home Ownership and Equity Protection Act of 1994, 15 U.S.C. Section 1639 et seq., as amended.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
04/03/03 0995s
07Jan2004… 2468h
03-1064
06/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Four
AN ACT relative to compliance with federal law in the making of first and second mortgage loans.
Be it Enacted by the Senate and House of Representatives in General Court convened:
140:1 New Paragraph; Definitions; “HOEPA.” Amend RSA 397-A:1 by inserting after paragraph III the following new paragraph:
III-a. “HOEPA” means the Home Ownership and Equity Protection Act of 1994, 15 U.S.C. Section 1639 et seq., as amended.
140:2 New Paragraph; License Application; Requirements; HOEPA Compliance. Amend RSA 397-A:5 by inserting after paragraph IV the following new paragraph:
V. Licensees shall comply with the provisions of HOEPA at all times.
140:3 New Paragraph; Definitions; “HOEPA.” Amend RSA 398-A:1 by inserting after paragraph III the following new paragraph:
III-a. “HOEPA” means the Home Ownership and Equity Protection Act of 1994, 15 U.S.C. Section 1639 et seq., as amended.
140:4 Revocation; Violation of HOEPA. Amend RSA 398-A:1-b, I (a) to read as follows:
(a) Has violated any provisions of this chapter, [or] rules or orders thereunder, or the provisions of HOEPA;
140:5 Effective Date. This act shall take effect January 1, 2005.
(Approved: May 24, 2004)
(Effective Date: January 1, 2005)