Mortgage Broker Licensing

License:  North Carolina Mortgage Broker License

Physical Office Required:  No
Qualifying Individual Required: Yes, QI requires 3 years of experience in mortgage lending/orignation, must have taken the 20 hour pre-licensing course within the past 3 years an passed the NMLS exam within the past 5. Must retake pre-licensing course and exam if it has been more than those timeframes.
Minimum Net Worth:  $25,000 (at least $10,000 in bank)
Financial Statements:  Unaudited
Surety Bond Amount:  $75,000
Company License Fee:  $1,250

Mortgage Lender Licensing

License:  North Carolina Mortgage Lender License

Physical Office Required:  No
Qualifying Individual Required:  Yes, QI requires 3 years of experience in mortgage lending/orignation, must have taken the 20 hour pre-licensing course within the past 3 years an passed the NMLS exam within the past 5. Must retake pre-licensing course and exam if it has been more than those timeframes.
Minimum Net Worth:  $100,000 net worth (evidence of $1,000,000 warehouse line of credit)
Financial Statements:  CPA Audited
Surety Bond Amount:  $150,000
Company License Fee:  $1,250

Regulated by:

NC Commissioner of Banks Office, Mortgage Division
316 W. Edenton St.
Raleigh, NC 27603
Phone: 919-733-3016
Fax: 919-733-6918
Company@nccob.gov