NC Mortgage Servicer Licensing
Licensing Overview
Effective January 1, 2009, the Mortgage Licensing Act ("MLA" as codified in NCGS Chapter 53, Article 19B) requires that any entity engaged in the business of servicing residential mortgage loans secured by North Carolina real estate be licensed by the NC Commissioner of Banks (“NCCOB”), unless exempt.
List of licensed Mortgage Servicers and Lenders that service mortgage loans.
Company application/license status may be checked online by using the licensee search.
Filing & Licensing RequirementsFiling Overview & Forms
Mortgage Servicers should use the NMLS website to submit a MU1 filing. An appropriate Surety Bond (see below) must also be included and a Qualifying Individual who is also a NC Licensed Mortgage Loan Originator must be designated in the application.
Surety Bonds
A Servicer Surety Bond in the amount of $150,000 must be submitted within 5 days of the NMLS online submission.
Filing Fees
The initial application & licensing fee for a Mortgage Servicer is One Thousand, Three Hundred and Fifty Dollars (including a $100 NMLS fee), plus the $46 fee to cover the cost of obtaining a credit report and conducting a criminal history check.for any portion of the first licensing year ending December 31st. These fees must be paid when submitting a filing online. All fees are non-refundable.
Rev. 11/4/2009