In order to be eligible to renew your NC Mortgage Loan Officer license, you must first transition your existing license to the Nationwide Mortgage Licensing System (NMLS) before submitting a renewal filing. Once you have submitted a Transition Request filing in NMLS for your existing license, your license must be in one of the "Approved” statuses in order to be eligible to renew. Waiting until November or December to submit a Transition Reguest filing may prevent on-time renewal of your license. To check your current license status, follow the instructions in the ‘Manage License Status Quick Guide’ located at the state regulatory registry website at www.stateregulatoryregistry.org/NMLS.
Note: A license status of ‘Approved-Inactive’ may be indicated while the company sponsorship request is being reviewed.
Records must be up-to-date at time of renewal. Under the provisions of the Mortgage Lending Act (MLA), all licensees are required to keep all material information filed with the Commissioner of Banks up-to-date and current by notifying this office of any change. Any amendments or changes to your individual record must be made prior to renewal. We STRONGLY recommend that you review your NMLS record prior to November 1, 2008 and submit any necessary updates to allow sufficient time for our office to review the changes prior to renewal. Waiting until November or December to submit amendments may delay renewal of your license.
Under the provisions of the MLA you are required to have eight (8) hours of education on or before December 31, 2008. Check our website at https://www.nccob.org/Online/NMLS/LoanOfficerLogin.aspx periodically to see if our record of your credit hours is 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 us of your hours. Persons with less than the required number of education hours are not eligible to have their licenses renewed. If you have less than the required hours of mortgage lending education, please obtain it promptly. The list of approved continuing education courses can be found on the website at www.nccob.org.
Beginning October 13th, all loan officers with an approved license must attest that their record is up-to-date and renewal requirements for North Carolina have been met (e.g. 8 Hours of Continuing Education). A licensed loan officer sponsored by a company will have to attest to his/her record, the sponsoring company can then either handle the renewal process or delegate responsibility to you. Please check with your company to determine how they intend to have you handle the renewal process this year.
Annual License Renewal Fee $97.50
A license that is not renewed on or before December 31, 2008 will automatically expire. To reinstate a license requires payment of a $100 reinstatement fee in addition to the annual renewal fee for a total of $197.50. The deadline for reinstatement of a license is February 28, 2009; thereafter, a new application for licensure must be filed. All fees are non-refundable.
Once your renewal request has been approved, please visit our website at https://www.nccob.org/Online/NMLS/LoanOfficerLogin.aspx to print your 2009 loan officer license.
Rev. 10/23/2008