Mortgage licensing / North Carolina

North Carolina Mortgage Origination Support Registration

company licence · NMLS NCORIGSUPPORTREG_C · COB

Requirements (19)

1. Step 1

   NC Registration Fee: • $250 for applicants with less than five (5) individuals. • $1,000 for applicants with between five (5) and thirty (30) individuals. • $2,000 for applicants with more than thirty (30) individuals. Note: Registration fees are billed through the NMLS Agency Fee Invoice system; applications will not be approved until this fee is paid (fees that are not paid within 30 days of invoice will result in the application being withdrawn). Other fees, including an NMLS initial processing fee, credit report fees and criminal background check fees, may also apply and are collected through NMLS unless otherwise noted. Fees ARE NOT REFUNDABLE.

   Submitted via: NMLS (Agency Fee Invoicing)

2. Step 2

   Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). North Carolina does not limit the number of other trade names. If operating under an “Other Trade Name”, upload an executed copy of a North Carolina Assumed Name Certification regarding ability to do business under that trade name from a North Carolina Register of Deeds office as required under N.C. General Statute Chapter 66, Article 14A. This document should be named North Carolina-Mortgage MOSR Trade Name – Assumed Name.

   Submitted via: NMLS Upload in NMLS: under the Document Type Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1).

3. Step 3

   Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on file with the North Carolina Department of the Secretary of State.

   Submitted via: NMLS

4. Step 4

   Qualifying Individual: Each MOSR is required to have a Qualifying Individual (QI) with: • Three years of residential mortgage lending experience and, • Meets the educational* and testing** requirements pursuant NCGS § 53-244.050(b)(1). *Have satisfactorily completed, within the three years immediately preceding the date of application, the mortgage lending prelicensing education as required under NCGS §53-244.070; and **Have a valid (unexpired) test that satisfies one of the following three conditions: 1. Passing results on both the National and North Carolina State components of the SAFE Test, or 2. Passing results on both the National and Stand-alone UST components of the SAFE Test, or 3. Passing results on the National Test Component with Uniform State Content Follow the instructions in the View Testing Information Quick Guideto confirm test results have been posted to your record and indicate “Pass” and that the test has not expired.

   Submitted via: NMLS

5. Step 5

   Credit Report: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Control Persons and the Qualifying Individual are required to authorize a credit report through NMLS. Individuals will be required to complete an Identity Verification Process (IDV) along with an individual attestation before a registration request for your company can be filed through NMLS. This authorization is made when the Individual Form (MU2) is submitted as part of the Company Form (MU1). NOTE: You may review the requirements of financial responsibility pursuant to N.C. General Statute §53-244.060(4).

   Submitted via: NMLS

6. Step 6

   MU2 Individual FBI Criminal Background Check Requirements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. The following Individuals listed as control persons and the Qualifying Individual, as specified below, on the Company Form (MU1) are required to authorize a FBI criminal background check (CBC) through NMLS. • Direct Owners • Executive Officers • Indirect Owners • Qualifying Individual • Other individuals as defined as a control person in North Carolina General Statute § 53-244-30(7). After authorizing an FBI criminal background check through the submission of the Company Form (MU1) and Individual Form (MU2), you must schedule an appointment to be fingerprinted if new prints are required. See the Criminal Background Check section of the NMLS Resource Center for more information. See N.C. General Statute requirements §53-244.060(2) and(3) Note: If you are able to ‘Use Existing Prints’ to process the FBI criminal background check, you DO NOT have to schedule an appointment. NMLS will automatically submit the fingerprints on file.

   Submitted via: NMLS

7. Step 7

   Business Plan: Upload a business plan outlining the following information: • Marketing strategies (how will you market your business and products in North Carolina; how will you generate business, etc.); and, • Operating structure the applicant intends to employ (i.e. does your company have branches and/or operations centers? At which location(s) will North Carolina residential mortgage loans be processed or underwritten? Does your company have offshore operations? etc.); and, • Business activities that will be conducted in North Carolina (i.e. mortgage processing, mortgage underwriting, etc. Also, ensure all business activities are entered into NMLS/MU1); and, • Mortgage activities (list any additional activities); • Services offered; and, • Target markets. This document should be named [Company Legal Name] Business Plan. Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. A company may upload a single business plan. State-specific material may be added to the existing uploaded business plan.

   Submitted via: Upload in NMLS: under the Document Type Business Plan in the Document Uploads section of the Company Form (MU1).

8. Step 8

   Certificate of Authority: Upload a North Carolina Secretary of State-issued and approved document, dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in the State if the business was formed outside of North Carolina. This form is required for foreign applicants (businesses formed in a state other than NC). Certificate of Existence/Good Standing: Upload a State-issued and approved document (typically by the Secretary of State’s office), dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in the applicant’s state of formation. This form is required for both foreign and domestic businesses (formed outside of-foreign, or in-domestic NC). This document should be named [[State prefix] Certificate of Authority AND/OR [State prefix] Certificate of Good Standing].

   Submitted via: Upload in NMLS: under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1).

9. Step 9

   Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments, thereto including a list of any name changes. Sole Proprietor • No documentation required to be uploaded. Unincorporated Association: • By-Laws or constitution (including all amendments). General Partnership: • Partnership Agreement (including all amendments). Limited Liability Partnership: • Certificate of Limited Liability Partnership; and • Partnership Agreement (including all amendments). Limited Partnership: • Certificate of Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Limited Partnership: • Certificate of Limited Liability Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); and • IRS Form 2553 or IRS Form 8832 if S-corp treatment elected; and • LLC resolution if authority not in operating agreement. Corporation: • Articles of Incorporation (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; • IRS Form 2553 if S-corp treatment elected; and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable. Not for Profit Corporation (May not require a mortgage origination support registration; you may contact our staff prior to application submission for clarification). • Documents requested of a Corporation; and • Proof of nonprofit status • Internal Revenue Service (“IRS”) 501(c)(3) designation letter; or • statement from a State taxing body or the State attorney general certifying that: (i) the entity is a nonprofit organization operating within the State; and (ii) no part of the entity’s net earnings may lawfully benefit any private shareholder or individual; or • entity's certificate of incorporation or similar document if it clearly establishes the nonprofit status of the applicant; or • Any of the three preceding items described, if that item applies to a State or national parent organization, together with a statement by the State or parent organization that the applicant is a local nonprofit affiliate. Trust (Statutory) • Certificate of Trust; and • Governing instrument (all amendments).

   Submitted via: Upload in NMLS: under Formation Document in the Document Uploads section of the Company Form (MU1).

10. Step 10

    Management Chart: Submit a Management chart displaying the applicant’s • Divisions; and • Officers/Directors (names and titles); and • Managers (names and titles); and • Identify the MLO(s) who will be supervising processors and/or underwriters (names and titles); and • Staff positions (number of staff in each position); and, • Attach a list of contract processors and underwriters including name and title; also provide the total number of such individuals. This document should be named [Company Legal Name] Management Chart. Note: If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: under Management Chart in the Document Uploads section of the Company Form (MU1).

11. Step 11

    Organizational Chart/Ownership Description: Submit a flowchart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%); • Indirect Owners (including all parent companies or individuals going back to an individual or publicly traded company); and • Subsidiaries and Affiliates of the applicant. This document should be named [Company Legal Name] Organizational Chart – Description. Note: If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart. Note: Subsidiaries and Affiliates are also to be listed in the MU1 of the NMLS.

    Submitted via: Upload in NMLS: under Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).

12. Step 12

    Organizational Chart/Ownership Description: Submit a flowchart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%); • Indirect Owners (including all parent companies or individuals going back to an individual or publicly traded company); and • Subsidiaries and Affiliates of the applicant. This document should be named [Company Legal Name] Organizational Chart – Description. Note: If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart. Note: Subsidiaries and Affiliates are also to be listed in the MU1 of the NMLS.

    Submitted via: Upload in NMLS: under Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).

13. Step 13

    Credit Report Explanations: Submit a line by line, detailed letter of explanation of all derogatory credit accounts along with proof of payoffs, payment arrangements and evidence of payments made, or evidence of any formal dispute filed (documents must be dated). Accounts to address include, but are not limited to: non-medical collections items, charge offs, accounts currently past due, accounts with serious delinquencies in the last 3 years, repossessions, etc. Note: Items regarding bankruptcy, foreclosure actions, outstanding judgments or liens, or delinquent child support payments should be addressed in the Disclosure Explanations section of your Individual Form (MU2). Note: You may review the requirements of financial responsibility pursuant to N.C. General Statute §53-244.060(4). This document should be named Credit Report Explanations – Sub Name – Document Creation Date.

    Submitted via: Upload in NMLS: under the Document Type Credit Report Explanations in the Document Uploads section of the Individual Form (MU2).

14. Step 14

    Verification of Experience: Provide a registration-specific resume for the Qualifying Individual with detailed job descriptions and/or duties performed evidencing experience in the industry the company is applying for a registration. Detailed job descriptions and duties with all employers need to be incorporated into a resume to demonstrate experience related to the specific state registration being applied for. North Carolina State specific requirements include: • more than half of the individual's employment income was derived from employment in the mortgage lending or mortgage brokerage industry; and • that individual had actual responsibility for job functions in each area of study included in a prelicensing education program. See North Carolina General Statutes § 53-244.030(27) and § 53-244.050(b)and N.C. Administrative Code 04 NCAC 03M.0204. Note: Resume data should match up to the employment history on the Individual Form (MU2). This document should be named [QI Resume - Verification of Experience] - MOSR.

    Submitted via: Upload in NMLS: under the Document Type Verification of Experience in the Document Uploads section of the Individual Form (MU2).

15. Step 15

    Contractual Agreement(s): Provide copies of contracts or agreements with NC SAFE Act licensed companies or depositories with whom you conduct business. Such agreements should reference the Gramm-Leach-Bliley Act, 15 U.S.C. § 6801, and include provisions related to the privacy, protection, security, and confidentiality of consumer information. Note: Contracts must be fully executed and no redactions.

    Submitted via: Upload Agreements to NCCOB Website: Please upload executed agreement(s) to our agency’s website at https://www.nccob.gov/online/Login.aspx. Login credentials can be requested on the site within one business day of application. submission. The document can be uploaded as a ‘Miscellaneous’ Doc-Type.

16. Step 16

    Certification: Complete a certification of compliance with Gramm-Leach-Bliley Act. via an attestation to be completed through our agency website login. Please note that you cannot access this automated form until one business day after application through the NMLS. This online form is to be completed by a control person of the company.

    Submitted via: Complete Certification on NCCOB’s Website: Login credentials can be requested on the site within one business day of application submission: https://www.nccob.gov/online/Login.aspx. Click on MOSR Certification and complete the online form as prompted – to be completed by a control person of the company.

17. Step 17

    Primary Contact Employees: The following individuals must be entered into the Contact Employees section of the Company Form (MU1). 1. Primary Company Contact. 2. Primary Consumer Complaint Contact.

    Submitted via: NMLS

18. Step 18

    Disclosure Questions/Explanations: Provide a complete and detailed explanation and document upload for each “Yes” response to Disclosure Questions made by the company or related control persons, and Qualifying Individual (MU2). See the Company Disclosure Explanations Quick Guide for instructions.

    Submitted via: Upload in NMLS in the Disclosure Explanations section of the Company Form (MU1) or Individual Form (MU2).

19. Step 19

    Control Person (MU2) Attestation: Complete the Individual Form (MU2) in NMLS. This form must be attested to by the applicable control person before it is able to be submitted along with the Company Form (MU1). Enter all control person for the mortgage origination support registrant. Control is defined in North Carolina General Statute § 53-244-30(7): "Control" means the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise. Any person that (i) is a director, general partner, or executive officer; (ii) directly or indirectly has the right to vote ten percent (10%) or more of a class of voting security or has the power to sell or direct the sale of ten percent (10%) or more of a class of voting securities; (iii) in the case of a limited liability company, is a managing member; or (iv) in the case of a partnership, has the right to receive upon dissolution, or has contributed, ten percent (10%) or more of the capital, is presumed to control the company.

    Submitted via: NMLS

General information

Other North Carolina mortgage licenses

• Exclusive Mortgage Broker
• Mortgage Branch Registration
• Mortgage Broker License
• Mortgage Lender License
• Mortgage Loan Originator License
• Mortgage Servicer License
• All 7 North Carolina licenses

Sourced from the NMLS/CSBS state licensing record, last updated June 17, 2024. Requirements change — confirm against the state agency before filing. Not legal advice.