Exemptions from Licensing

North Carolina General Statutes Chapter 53, Article 19B (Mortgage Licensing Act "MLA") requires that residential Mortgage Lenders, Brokers and Mortgage Loan Originators engaged in making residential mortgages secured by NC real estate be licensed by the Commissioner of Banks unless exempt by law.

The MLA exempts individuals in certain situations, see frequently asked questions and answers here. 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 MLA. Note that employees of exempt entities are also exempt from the MLA's Mortgage Loan Originator licensure requirement and will be treated as exempt without filing individually to claim exempt status.

Note: Contact (919) 733-4242 for assistance with your claim.

The Office of Commissioner of Banks may take up to 30 days to process claims of exemption. If there are questions regarding your application, you may be requested to furnish additional information. The NCCOB will notify you regarding the acceptance or denial of the claim of exemption filed with our office.

Claimants are required to keep all information on file with the Commissioner current. If the information contained in an initial claim of exemption filing changes in any material respect, the Claimant must notify the Commissioner within 15 days of the effective date of such change.