Mortgage Licensing Information

Who Needs a License/Registration

The "North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act," codified in NCGS Chapter 53, Article 19B,  requires an individual, partnership, limited liability company, limited partnership, corporation, association, or other group engaged in the mortgage business, as defined in § 53-244.030 (30),to be licensed or registered annually by the NC Office of the Commissioner of Banks.

Any individual engaging in the mortgage business as a Mortgage Loan Originator or Exclusive Mortgage Broker, as defined by the North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act must have a mortgage loan originator license. (See NCGS §§ 244.030(11a) and (21)).

Certain persons and individuals engaged in the mortgage business, described in G.S. 53-244.040(d), are exempt from North Carolina licensure.

In addition, some exempt persons described in G.S. 53-244.040(d) must notify the Commissioner’s Office in order to claim the exemption and receive confirmation. G.S. 53-244.050(g). If a Claim of Exemption is required, this office must be notified when there are changes to the information contained within the Claim of Exemption.  State or federally chartered credit unions must request an exemption from the Administrator of the Credit Union Division of the Department of Commerce.

License/Registration Requirements and How to Submit an Application 

All mortgage licensing applications must be submitted via the Nationwide Mortgage Licensing System & Registry (NMLS).


 

See links below for more details.