Initial Education Requirements Before applying for a Mortgage Loan Originator License, an individual must: View the state checklist prior to applying for a license Establish a unique identifier in NMLS Review the NC Prelicensing (PE) standards prior to registering for a PE course Complete the 24 hour prelicensing course from the approved list in the NMLS course catalog Pass the SAFE Act Test which is comprised of two components: A National Component and NC State specific component at an official testing center.  See detailed information found in the NMLS Resource Center Submit MU4 filing online via the NMLS website (Total fee $201) Submit a completed fingerprint card, Authority for Release of Information (form MLA01), course completion certificate, and NMLS Mortgage Loan Originator test results.  These documents should be mailed to: NC Commissioner of Banks; 4309 Mail Service Center, Raleigh, NC  27699-4309.  Mortgage loan originators can check on the status of their application/license online by using the licensee search feature. Continuing Education Requirements Except for their first  year of licensure, mortgage loan originators are required to complete eight (8) hours of NMLS approved continuing education courses to be eligible for renewal by December 31st. In order to facilitate a timely renewal and avoid additional paperwork, all mortgage loan originators  are strongly encouraged to complete this coursework prior to October 31st of each year so that these education hours can be properly documented in the system. Please Note: A LICENSED MORTGAGE LOAN ORIGINATORS MAY NOT TAKE THE SAME APPROVED COURSE IN THE SAME OR SUCCESSIVE YEARS TO MEET THE ANNUAL REQUIREMENTS FOR CONTINUING EDUCATION.  Mortgage Loan Originator License Renewal Mortgage Loan Originator licenses will expire December 31st.  To be eligible for renewal, a licensee must: Remain in good standing under the law Pay the $97.50 (which includes a $30 NMLS fee) annual renewal fee Complete at least 8 hours of mortgage lending education approved through the NMLS, during the fiscal year ending December 31st. A new licensee's* continuing education is waived for the first renewal period. *(New licensee is an individual who has successfully completed the 24 hour of approved prelicensing education and passed the approved examinations within the previous 12 months ending December 31st). Failure to renew by December 31st will result in automatic expiration of an individual's license and will require a $100 re-instatement fee in addition to the $97.50 renewal fee for a total of $197.50. If not renewed within 60 days after December 31st, the licensee must file an initial application and satisfy all initial education and testing requirements and undergo a background check. Please note: Continuing education must be completed on or before December 31st of each year. Mortgage Loan Originators may check their education hours online by using the licensee search or education history to verify education courses that have been taken and properly recorded. If within a reasonable time after taking a course your record has not changed, contact the provider directly to ensure that the provider has submitted your education hours to the NMLS. Reinstatement of an expired Mortgage Loan Originator License Prior to February 28th Without a valid license, it is unlawful for anyone to "act as a mortgage broker, lender or mortgage loan originator" as such term is defined in the Mortgage Licensing Act.  Follow the steps below to renew your expired license: Submit renewal and pay fees online at NMLS  (Total fees $197.50 which includes $100 late fee) Licenses will not be renewed after February 28th. Instead, if you wish to continue in the mortgage lending business, an individual must: Submit a new MU4 filing on the NMLS website Pay all the required fees Complete the 24 hour prelicensing course (if taken more than three years preceding  application)  Pass the test - National and State components. (if taken more than three years preceding application) Additionally, acting as a mortgage loan originator without a license may subject one to civil or criminal action and penalties.

 Rev. 2/12/2010