North Carolina

This state is notorious for being one of the most challenging states to get licensed in. The review process is very thorough and detailed. This state will allow 30 days to respond to license items – after this time they will be deemed withdrawn – the company, branch, or individual will need to re-apply if Withdrawn.

Note to branches: Each branch location wishing to conduct NC activity must apply for the applicable NC branch license. The branch manager must be a licensed NC MLO and meet applicable experience requirements.

StateLicense NameState FeeBond Premium Est.
SoS FeeMLG ProcessingTotal
North CarolinaMortgage Broker License$1388.00$563.00$425.50Call for More Information$2376.50
North CarolinaMortgage Lender License$1388.00$750.00$425.50Call for More Information$2563.50
North CarolinaCOA + Permit$500.00$150.00 - 1125.00$384.00Call for More Information$1034.00

License: Mortgage Lender License

  • Operating Status: Lender/Broker
  • Bond Amount: $150,000
  • Net Worth: $100,000
  • Brick & Mortar: Yes
  • Audited Financials: Yes

License: Mortgage Broker License

  • Operating Status: Broker
  • Bond Amount: $75,000
  • Net Worth: $25,000
  • Brick & Mortar: Yes
  • Audited Financials: Yes

License: Mortgage Servicer License

  • Operating Status: Servicer
  • Bond Amount: $150,000
  • Net Worth: $100,000
  • Brick & Mortar: No
  • Audited Financials: Yes

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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 one 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. Financial statements 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