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 State Licensing Requirements

 
Company Licenses Description Requirements Checklist
Money Transmitter License This license is required of any company (including sole proprietorship) engaged in the business of money transmission, which is defined as: •Sale or issuance of payment instruments or stored value primarily for personal, family, or household purposes; or •Receiving money or monetary value for transmission or holding funds incidental to transmission within the United States or to locations abroad by any and all means, including payment instrument, stored value, wire, facsimile, or electronic transfer, primarily for personal, family, or household purposes. This includes maintaining control of virtual currency on behalf of others.
Mortgage Broker License This license is required of any company or sole proprietor who for compensation or gain, or in the expectation of 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, or engages in tablefunding of mortgage loans, whether such acts are done through contact by telephone, by electronic means, by mail, or in person with the borrowers or potential borrowers on residential real property located in North Carolina. (More Details)
Mortgage Lender License This license is required of any company or sole proprietor 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 under a mortgage loan on residential real property located in North Carolina. (More Details)
Mortgage Origination Support Registration This registration is required of any person (individual, partnership, Limited Liability Company, limited partnership, corporation, association, or other group) who engages in contract processing and underwriting is required to register. The North Carolina Secure and Fair Enforcement Mortgage Licensing Act (“NC SAFE Act”) defines a “mortgage origination support registrant” as a “person engaged exclusively in the processing or underwriting of residential mortgage loans and not engaged in the mortgage business.”
Mortgage Servicer License This license is required of any company or sole proprietor who for compensation or gain from another or on its own behalf is in the business of receiving any scheduled periodic payments from a borrower pursuant to the terms of any mortgage loan, including amounts for escrow accounts, and making the payments of principal and interest and such other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the mortgage loan, the mortgage servicing loan documents, or servicing contract. (More Details)
Branch Licenses Description Requirements Checklist
Branch License This license is required of any office location that is separate and distinct from a principal office where a company or sole proprietor acts as a Mortgage Lender or Mortgage Broker regarding residential real property in North Carolina. (More Details)
Individual Licenses Description Requirements Checklist
Exclusive Mortgage Broker This license is required of any individual who acts as a Mortgage Broker exclusively for a single mortgage lender or broker or single exempt person and for compensation or gain, or in the expectation of 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, or engages in table funding of mortgage loans, whether such acts are done through contact by telephone, by electronic means, by mail, or in person with the borrowers or potential borrowers on residential real property located in North Carolina. (More Details)
Mortgage Loan Originator License This license is required of any individual who, in exchange for compensation as an employee of a Mortgage Lender or Mortgage Broker, accepts or offers to accept applications for mortgage loans on residential real property in North Carolina.
Transitional Mortgage Loan Originator License This license is required of MLOs who intend to manage processors or underwriters for a Mortgage Origination Support Registrant but have not completed the prelicensing education or testing. PLEASE NOTE: This transitional license is not the same as Temporary Authority to Operate (TA). Applications for TA are done through the standard Mortgage Loan Originator License application. Please contact our office if clarification is required. Fees are non-refundable.
 

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