**Our agency is currently working with the Conference of State Banking Supervisors and the American Association of Residential Mortgage Regulators in development of a national mortgage license system for the residential mortgage industry. In order to transition to the new national mortgage licensing system, our agency will start issuing an 18 month license instead of the traditional 12 month license until we are on the same renewal period as the national system. Any applications that are approved after May 1, 2007 will have an expiration date of December 31, 2008; as such, the application fee has been adjusted for this change and is noted in the instructions below.**
Renewal via the Internet
Loan officers may renew their license via the internet at https://www.NCCOB.ORG/Online/MLS until March 31st. The NCCOB website is a secure site that uses the North Carolina Office of State Controller's online payment service for credit/debit card and ACH payment processing. In addition to renewing your license, address and employment changes can be reported through the NCCOB website, and your education history can be viewed to prevent repeating a course that has already been taken within a three year period. If you renew via the internet, you do not have to sign and mail the renewal notice that will be mailed to each Loan Officer in good standing in October. NOTE: If you received your license by order of the Commissioner, you will not be able to renew via the internet, instead you must renew using the renewal notice you received in the mail. **Even if your company pays your renewal fee you must go into the system and answer the legal question. If you fail to do this by December 31st you will be required to pay a $50 late fee in order to renew.**
General Renewal Information
To be eligible for renewal, a licensee must remain in good standing under the law, pay the $67.50 annual renewal fee, and complete at least eight (8) hours of continuing education coursework approved by the Commissioner (except for a new licensee coming up for renewal the first time, when this continiuing education requirement is waived).
During the month of October, Licensees will be sent a renewal notice, including the number of continuing education hours earned for the year according to the Commissioner's records.
Licensees are strongly encouraged to complete their continuing education coursework prior to October 31st to avoid additional paperwork to document continuing education courses completed after renewal notices are sent out and which may possibly cause a delay in renewal.
Loan Officers can check their education hours online by using the licensee search or verify education courses that have already been taken at https://www.NCCOB.ORG/Online/MLS. Check the website periodically to see if your credit hours are up-to-date. If within a reasonable time after taking a course your record has not changed, contact the provider to ensure that the provider has notified the Commissioner of your hours.
Failure to renew by December 31st will result in automatic expiration of your license and may require payment of a $50 re-instatement fee in addition to the $67.50 renewal fee. After 90 days, the licensee must re-file an initial application and meet all initial educational and testing requirements again.
Rev. 12/14/2007