Get Company New Application Checklist NORTH CAROLINA ... - Mortgage Nationwidelicensingsystem

The North Carolina Office of the Commissioner of Banks (NCCOB) regulates Mortgage Loan Originators, Mortgage Lenders and Brokers, Mortgage Servicers, Reverse Mortgages, and Mortgage Originator Support Registration.

NCCOB is responsible for the chartering and regulation of North Carolina's state banks, trust companies, mortgage companies, as well as registration and licensing of various financial institutions operating in North Carolina.

North Carolina Mortgage License Continuing Education Requirements. Mortgage loan originators licensed in North Carolina must take 8 hours of NMLS-approved continuing education every year. This includes 7 hours of NMLS core education and a 1-hour North Carolina state-specific elective. All CE is due by December 31.

Federal Trade Commission – The Federal Trade Commission (FTC) is an independent government agency whose primary role is to ensure the protection of consumers. The commission regulates mortgage companies engaging in deceptive and unfair practices that affect their consumers.

Mortgage Licensing Act” (NC SAFE Act), codified in NCGS Chapter 53, Article 19B, requires any entity engaged in the business of making or brokering residential mortgage loans secured by North Carolina real estate to be licensed by the NC Commissioner of Banks (“NCCOB”), unless exempt.

Exemptions from Licensing Depository institutions, subsidiaries that are owned and controlled by a depository institution and regulated by a federal banking agency, or institutions regulated by the Farm Credit Administration are required to file a claim of exemption in order to be exempt under the NC SAFE Act.

Loan Officer Salary in North Carolina Annual SalaryMonthly PayTop Earners$106,784$8,89875th Percentile$81,800$6,816Average$59,501$4,95825th Percentile$41,800$3,483

The NC SAFE Act requires licensure or registration for individuals and companies who engage in the mortgage business or process and underwrite mortgage loans, unless an exemption applies.