Mortgage News Archive

NCCOB Non-Depository Newsletter  (Volume 2, Issue 1) dated April 19, 2010 was emailed to all licensed companies and mortgage loan originators.

Press Release: State Regulators Announce Settlement Agreement with CitiFinancial. (March 24, 2010) See settlement agreement.

Press Release: Manufactured Home Lender Refunds $2.8 million to NC Homeowners and Agrees to Improve its Business Practices. (March 9, 2010)

• The NCCOB emailed all Licensing Contacts,Qualifying Individuals and Mortgage Loan Originators regarding the MLO Federal Criminal Background checks through NMLS dated 1/25/2010. See attached  Federal Criminal Background check memo for detailed information.

• The Nationwide Mortgage Licensing System sent the attached notices to all company Account Administrators and licensed Mortgage Loan Originators in NMLS making them aware of the pending launch of NMLS Consumer Access and encouraging them to review their information in NMLS and ensure it is in a form that they wish to have publicly displayed.

• The NCCOB is conducting a Qualifying Individual Orientation (QIO) session on March 24, 2010 at our Raleigh office.  This class is designed for qualifying individuals and licensing contacts of recently licensed companies. Companies may register their qualifying individuals or licensing contacts here.

• The NCCOB emailed all licensed Lenders and Brokers a financial statement reminder on February 8, 2010.  The financial statements are due March 31, 2010.  Select the link here to view the financial statement reminder.

  The 2nd Annual NMLS User Conference and Training is scheduled for February 9-11, 2010 in San Diego, CA. See agenda here for additional information.
• The Proposed Mortgage rules were published in the N.C. Register on November 2, 2009 at: http://www.oah.state.nc.us/rules/register/ (Volume 24, Issue 09).  Click here to review proposed rules and public comments.  The public comment period began on Nov. 2 and ran through Jan. 2, 2010.
• NCCOB Non-Depository Newsletter  (Volume 1, Issue 3) dated October 31, 2009 was emailed to all licensed companies and mortgage loan originators.
• The NCCOB emailed all currently licensed Mortgage Loan Originators a MLO renewal notice dated 10/16/2009.
• The NCCOB emailed all currently licensed Mortgage Lenders and Brokers a Company Renewal Notice dated 10/16/2009.
• The NCCOB emailed all currently licensed Mortgage Loan Originators a Certification of SAFE Act Education Hours Letter dated 09/22/2009.
• The NCCOB emailed all currently licensed Mortgage Loan Originators a MLO Professional Requirements Letter  regarding the NC SAFE Mortgage Licensing Act dated 08/31/2009.
• The NCCOB emailed all licensees a Testing Requirements Notification letter regarding the NC SAFE Mortgage Licensing Act dated 08/7/2009.
• NCCOB Non-Depository Newsletter (Volume 1, Issue 2) dated August 5, 2009 was emailed to all licensed companies and loan officers.
• The "NC Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act" was enacted on 07/22/09 and signed by Governor Perdue on 07/31/09 with an effective date of 07/31/09.  
• Press Release: NCCOB Prohibits Net Branch Company from engaging in Mortgage Business in NC.
• Please keep your email address in the Nationwide Mortgage Licensing System up to date to ensure that you receive notifications and correspondence in a timely manner.
• NCCOB Non-Depository Newsletter (Volume 1, Issue 1) dated April 27, 2009 was emailed to all licensed companies and loan officers.
• The Office of the Comptroller of the Currency released a consumer advisory to help homeowners avoid scams that claim to help save their homes.  
• The NCCOB emailed all licensees a Loan Modification and Debt Repair Memo dated 03/31/2009.
• The NCCOB emailed all licensed mortgage loan originators a memo regarding the Certification Process for Education and Testing on March 10, 2010.  See attached memo here and the Certification Process FAQs here.
• Annual Financial Statements requirements have changed per NC Admin. Code Rule  04 NCAC 03M .0401(b). Please review this NMLS Financial Statement Information Memo for details.  
• Declaratory Ruling 2008-01 issued detailing the high-cost loan law as it relates to seller paid points.
• The legislature in its 2008 session enacted three laws affecting mortgage servicing, foreclosures, North Carolina’s “high-cost loan” statute, and the Mortgage Lending Act generally.  In addition changes proposed by the NC Commissioner of Banks (NCCOB) to the North Carolina Administrative Code became effective immediately upon completion of the 2008 General Assembly session. A summary Letter was mailed out the week of 09/05/08 regarding these three enacted laws.
• Deputy Commissioner Mark Pearce's Legislative Update Letter and Summary of House Bill 1817.  
• RESPA/FHA existing policy regarding non FHA-approved mortgage broker fees in FHA mortgage transactions. 
• Sign up to receive electronic updates via our non- depository newsletter by sending a blank email to:NonDepositoryNews-subscribe@lists.ncmail.net

Rev. 9/1/2010