The “North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act” as codified in NCGS Chapter 53, Article 19B, requires the NC Commissioner of Banks to register any person engaged in the business of contract mortgage processing and underwriting, unless an exemption applies, pursuant to NCGS § 53-244.040(d) .
A mortgage origination support registrant (MOSR) is an individual or business engaged exclusively in the processing or underwriting of residential mortgage loans and not engaged in the mortgage business.
Approved licenses may be viewed by visiting Find Licensees.
Overview, Forms, and Fees
The qualifying individual must have at least three (3) years of residential mortgage lending experience. The qualifying individual is primarily responsible for the operations of the licensee.
The MOSR is also required to employ and sponsor at least one licensed mortgage loan originator or transitional mortgage loan originator who will control and supervise its loan processors and underwriters. The mortgage loan originator must meet NC SAFE Act education and testing requirements. See licensing overview for mortgage loan originators.
Who To Contact
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