The General Assembly enacted the Reverse Mortgage Act in 1991 (General Statute 53-255 et.seq.) for the purpose of making reverse mortgages a useful financial tool for elderly homeowners. With the exception of banks, savings institutions, credit unions and the North Carolina Housing Finance Agency, the Act requires that the Commissioner of Banks approve any lender which makes reverse mortgage loans in this State. Lenders such as banks which are exempt from the Act must, however, notify the Commissioner of Banks of their intent to make reverse mortgage loans in North Carolina.  **The Reverse Mortgage Act does not allow for brokering of reverse mortgages only the making and servicing of such loans by those who are approved.**

Current listing of NC Reverse Mortgage Lenders

NC Approved Reverse Mortgage Counselors  (See counselor list on the attached page)

NC Administrative Code, Title 4, Chapter 3, Subchapter 3K (Click on this link and select SubChapter K)

NC Reverse Mortgages (NC GS 53 Article 21, Sections 255, et. seq).

NC Reverse Mortgage Lender Application (RM56)

Notice of Intent to Make Reverse Mortgage Loans Application (RM57) (Exempt Lender)

NC Counseling Guidelines

Surety Bond

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