North Carolina Mortgage Licensing
This state is widely recognized for being one of the most challenging states to get licensed in. The review process is very thorough and detailed. NC allows only 30 days to respond to licensing items. Failure to meet this deadline will result in the application being marked as withdrawn by the state, requiring the company, branch, or individual to restart the entire process to re-apply. North Carolina mandates that all licensed locations operate from commercial office space, reinforcing the state's strong focus on consumer protection. The Broker and Banker license require a Anti-Money Laundering (AML) / Bank Secrecy Act (BSA) Policy with most recent Independent Review. Named QI is required for all license types and must meet applicable experience, education and testing requirements.
| State | License Name | State Fee | Bond Premium Est. | SOS Fee | MLG Processing Fee | Total |
| North Carolina | Mortgage Broker License | $1,370 | $563 | $326 | Call for More Information | $2,259 |
| North Carolina | Mortgage Lender License | $1,370 | $1,125 | $326 | Call for More Information | $2,821 |
| North Carolina | Mortgage Servicer License | $1,370 | $1,125 | $326 | Call for More Information | $2,821 |
License: Mortgage Broker License
- Operating Status: Broker
- Bond Amount: $75,000
- Net Worth: $25,000 w/ $10K Liquid
- Brick & Mortar: No
- Financial Type: Unaudited
License: Mortgage Lender License
- Operating Status: Broker/Lender
- Bond Amount: $150,000
- Net Worth: $100,000 w/ liquidity of $1 Million, which may include a warehouse line
- Brick & Mortar: No
- Financial Type: Audited
License: Mortgage Servicer License
- Operating Status: Servicer
- Bond Amount: $150,000
- Net Worth: $100,000
- Brick & Mortar: No
- Financial Type: Audited
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Mortgage Broker License
This company application is relatively expensive. Company must provide evidence that the broker owns and holds liquid assets of at least $10,000 – this must be maintained on a continual basis. Company must provide bank account information on the NMLS. Your qualified individual must meet the requirements of having 3 years of residential mortgage lending experience and meet education and testing requirements. This application also requires an extremely detailed business plan/organization chart describing company operations. Financial statements must reflect a net worth of at least $25,000. A surety bond in the amount of $75,000 is also required.
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Mortgage Lender License
This company application is relatively expensive. Company must provide evidence of a warehouse line of credit of $1 million dollars or other funding capacity. Your qualified individual must meet the requirements of having 3 years of residential mortgage lending experience and meet education and testing requirements. Audited financial statement must reflect a positive net worth of least $100,00.00. This application also requires an extremely detailed business plan/organization chart describing company operations. This application requires a high bond amount in the amount of $150,000.
For more information or to speak to a representative for your state
call us today at 866-576-7726
**Fees & terms are subject to change without notice.**