N.H. Senate supports licensing mortgage originators

CONCORD, N.H.—New Hampshire is one step closer to requiring licenses from people who arrange mortgage loans.

The state Senate sent Gov. John Lynch a bill Thursday that will require mortgage originators to pay $100 per year and fill out an application that includes questions about any past criminal charges or if they've ever been fired. The state Banking Department would issue the licenses and have the authority to deny or revoke licenses under certain circumstances.

Lawmakers say the licensing measure will allow banking officials to track loan originators across state lines who are incompetent or act in bad faith.

Lynch supports the bill.