Loan Originators

North Carolina Mortgage Loan Originator Licensing Requirements

Licensing Overview

The “North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act” as codified in NCGS Chapter 53, Article 19B, requires that the NC Commissioner of Banks license any person engaged in the business of making or brokering residential mortgage loans, unless an exemption applies, pursuant to NCGS § 53-244.040(d).

A Mortgage Loan Originator (MLO) is an individual who for compensation or gain or in the expectation of compensation or gain, whether through contact by telephone, by electronic means, by mail, or in person with prospective borrowers, either:

Takes a residential mortgage loan application,
Accepts or offers to accept applications for mortgage loans,
Solicits or offers to solicit a mortgage loan,
Offers or negotiates the terms or conditions of a mortgage loan, or
Issues mortgage loan commitments or interest rate guarantee agreements to prospective borrowers.

Approved licenses may be viewed by visiting Find Licensees.

Testing and Education Requirements

Applicants for a mortgage loan originator license must have passed, within the five years immediately preceding the date of application, the test required under G.S. 53-244.080.

Applicants for a mortgage loan originator license must have satisfactorily completed, within the three years immediately preceding the date of application, at least 24 hours of pre-licensing education, which shall include:

Three hours of federal law and regulations;
Three hours of ethics, including instruction on fraud, consumer protection, and fair lending issues;
Two hours of training related to lending standards for nontraditional mortgage products; and
Four hours of North Carolina laws and regulations.

A licensed mortgage loan originator must annually complete at least eight hours of continuing education, which shall include:

Three hours of federal law and regulations;
Two hours of ethics, including instruction on fraud, consumer protection, and fair lending issues;
Two hours of training related to lending standards for nontraditional mortgage products; and
One hour of North Carolina law and regulations.

Please see NC Prelicensing Education Requirements for additional information. Education courses for pre-licensing and continuing education are found in NMLS.

Who To Contact

Please see our Contact Us page for contact information.