Mortgage Lender & Broker Licensing Requirements

Licensing Overview

A mortgage lender is an individual or business who for compensation or gain, closes a mortgage loan, advances funds, offers to advance funds, or makes a commitment to advance funds to a borrower on residential real property located in North Carolina.

A mortgage broker is an individual or business who for compensation or gain, either directly or indirectly, accepts or offers to accept an application for a mortgage loan, solicits or offers to solicit a mortgage loan, negotiates the terms or conditions of a mortgage loan, issues mortgage loan commitments or interest rate guarantee agreements to borrowers, whether done through contact by telephone, electronic means, mail, or in person with the borrowers or potential borrowers on residential real property located in North Carolina.

The "North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act," as codified in NCGS Chapter 53, Article 19B, requires that any entity engaged in the business of making or brokering residential mortgage loans secured by North Carolina real estate be licensed by the NC Office of the Commissioner of Banks, unless an exemption applies, pursuant to NCGS § 53-244.040(d).

Approved licenses may be viewed by visiting Find Licensees.

Filing Overview, Forms, and Fees

Mortgage lenders and brokers shall submit an application through the NMLS website. An appropriate Surety Bond (see below) must be designated in the application. Please see Forms and Fees for additional information. All fees are posted on the Fee Schedule.

Qualifying Individual

The qualifying individual and each branch manager must have at least three (3) years of residential mortgage lending experience and meet the requirements of N.C.G.S. § 53-244.050(b). The qualifying individual may serve as a branch manager for one branch office in addition to any duties at the principal office, but otherwise, a branch manager may manage only one branch office.  If a mortgage lender or mortgage broker has no branch offices, its qualifying individual shall be licensed as a mortgage loan originator to oversee the origination activities conducted at the principal office. See N.C.G.S. § 53-244.040.  The qualifying individual is primarily responsible for the operations of the licensee.  See N.C.G.S. § 53‑244.030(27).

Branch Offices

All branch offices that make or broker residential mortgage loans (N.C.G.S. § 53.244.030(30)) secured by North Carolina residential real estate (N.C.G.S. § 53.244.030(31)) must be registered in North Carolina. Branch offices shall be located in the United States.  Every branch office must have a designated North Carolina licensed mortgage loan originator as a branch manager. All branch office applications as well as amendments (branch manager and address changes, etc.) are submitted through the NMLS website. To close a branch office, a surrender/cancellation must be submitted through NMLS.  Branch office is defined in N.C.G.S. § 53-244.030(4) as:  “An office of a mortgage broker or mortgage lender that is open to the public, separate and distinct from the principal office, and consists of at least one enclosed room or building of stationary construction from which its employees engage in the mortgage business.  A branch office shall not be located in an individual’s home or residence.” 

Surety Bonds

A licensee is required to have a surety bond as detailed in N.C.G.S. § 53.244.103 (b)(1) and (2). The minimum bond amounts begin at $75,000 for a broker and $150,000 for a lender. Subsequent bonds are adjusted based upon the loan origination volume as of December 31st of each year. Please see § 53‑244.103 for additional information.

Ceasing Business

See Instructions for Ceasing Business in North Carolina.

Who To Contact

Please see our Contact Us page for contact information.