Mortgage Servicer Licensing Requirements

Licensing Overview

A mortgage servicer, defined by NC General Statute § 53-244.030(11c), is a person or business that collects or receives payments from a borrower under the terms of a residential mortgage loan, or to work with the borrower and the mortgage lender or servicer to collect data and make decisions necessary to modify certain terms, or to finalize collection through the foreclosure process.  The term includes master servicers and reverse mortgage servicers.

Effective July 31, 2009, and as amended effective October 1, 2025, the “North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act”, codified in NCGS Chapter 53, Article 19B requires any entity directly or indirectly engaged in the business of servicing residential mortgage loans secured by North Carolina real estate be licensed by the NC Commissioner of Banks, unless an exemption applies, pursuant to NCGS § 53-244.040(d).

Approved licenses may be viewed by visiting Find Licensees.

Filing Requirements

Overview, Forms & Fees

Mortgage servicers shall submit an application through the NMLS website. An appropriate surety bond (see below) must also be included and a qualifying individual 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 must have at least three (3) years of residential mortgage servicing experience. The qualifying individual is primarily responsible for the operations of the licensee.

Surety Bonds

A licensee is required to have a surety bond as detailed in N.C.G.S. § 53.244.103(b)(2). The minimum bond amount is $150,000 for a servicer. Please see Forms and Fees 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.