Mortgage licensing / North Carolina

North Carolina Mortgage Servicer License

company licence · NMLS NCSERVICER_C · COB

Requirements (23)

1. Step 1

   Financial Statements: Upload an unqualified audited statement of financial condition prepared in accordance with Generally Accepted Accounting Principles dated within 90 days of your fiscal year end. Financial statements should include a balance sheet, income statement, and statement of cash flows and all relevant notes thereto. If applicant is a start-up company, only an audited initial statement of condition is required. Pursuant to § 53-244.104 the financial statement must illustrate a company net worth of $100,000, not including monies in any escrow accounts held for others. Note: Financial statements are uploaded separately under the Filing tab and Financial Statement submenu link. See the Financial Statements Quick Guide for instructions. Note for annual renewal/annual review of financials after licensure: A net worth of $100,000 must be held upon licensure and maintained thereafter on a continuous basis. An audited, unqualified financial statement is to be uploaded annually to the NMLS within 90 days of the company’s fiscal year-end and will be reviewed by our staff for compliance prior to license renewal. Prudential Standards, effective 10/1/2025, detailed in Part 2 of the NC SAFE Act may impact certain servicers, or lenders that service, if they will have servicing portfolios of 2,000 or more North Carolina residential mortgage loans. Some exclusions apply; however, full details are available at the following link: https://www.ncleg.net/EnactedLegislation/Statutes/PDF/ByArticle/Chapter_53/Article_19B.pdf

   Submitted via: NMLS Upload Financial Statement in NMLS: under the applicable period in the Financial Statement Summary section of the Company Form (MU1).

2. Step 2

   Other Trade Name: 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 Broker License 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 record with the North Carolina Department of the Secretary of State.

   Submitted via: NMLS

4. Step 4

   Non-Primary Contact Employees: North Carolina requires that an individual(s) be identified as a Non-Primary Contact for the following areas. These contacts must be listed in the Contact Employees section of the Company Form (MU1). 1. Licensing 2. Consumer Complaint (Public) 3. Exam Delivery 4. Consumer Complaint (Regulator) 5. Legal 6. Pre-Exam Contact

   Submitted via: NMLS

5. Step 5

   Qualifying Individual: North Carolina General Statute § 53-244.030(27) defines a Qualifying individual: An individual who meets the requirements of G.S. 53-244.050(b), has at least three years of residential mortgage lending or servicing experience, and who agrees to be primarily responsible for the operations of a licensee or registrant. This individual must be listed in the Qualifying Individual section of Company Form (MU1). Each servicing licensee is required to have a Qualifying Individual (QI) with three years of residential mortgage servicing experience (see North Carolina Administrative Code 04 NCAC 03M.0204

   Submitted via: NMLS

6. Step 6

   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 license 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). You may review the requirements of financial responsibility pursuant to N.C. General Statute §53-244.060(4).

   Submitted via: NMLS

7. Step 7

   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. • Qualifying Individual(s) • Direct Owners • Indirect Owners • Executive Officers • Other individuals, such as Directors, or others 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. 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

8. Step 8

   Electronic Surety Bond: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Electronic Surety Bond via NMLS in the amount of $150,000 furnished and submitted by a surety company authorized to conduct business in North Carolina. Note: Subsequent increased bond amounts are based upon the licensee’s annual North Carolina loan volume. Any increased surety bond required under N.C. General Statute § 53-244.103(b) shall be filed on or before May 31 immediately following the 12-month period ending December 31. As of 10/1/2025 for May 2026 updates based on Q4 2025 servicing volume and annually thereafter: Application, Origination, or Servicing Volume Mortgage Broker Mortgage Lender or Mortgage Servicer With application $75,000 $150,000 Between $10,000,000.01 and $49,999,999.99 $125,000 $250,000 $50,0000,000 or more $250,000 $500,000 See the ESB Adoption Table and the ESB for NMLS Licensees page of the NMLS Recourse Center for more information. Note: Surety bonds submitted via the Document Uploads section will not satisfy this requirement.

   Submitted via: Electronic Surety Bond in NMLS

9. Step 9

   Business Plan: Upload a business plan outlining the following information for North Carolina mortgages: • Business activities that will be conducted (i.e. 1st and/or 2nd mortgage servicing, third party servicing, master servicing, etc.); • Mortgage activities (i.e. payment collection, loss mitigation, customer service, etc.); • Products Serviced (i.e. conventional, VA, FHA, USDA; fixed, ARMs, etc.); and, • Operating structure the applicant intends to employ (i.e. locations, departments, functions, etc.). 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 should only upload a single business plan. If state-specific material is required, this information should 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).

10. Step 10

    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).

11. Step 11

    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 be exempt and may not require a mortgage servicer license; you may contact our staff prior to application submission for clarification). Exemption may be claimed at the following link on our agency website: https://www.nccob.gov/online/licenseinquirynmls.aspx • 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 the Document Type Formation Document in the Document Uploads section of the Company Form (MU1). This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)].

12. Step 12

    Management Chart: Submit a Management chart displaying the applicant’s • Divisions; • Officers/Directors (names and titles); • Managers (names and titles); and • Staff positions (number of staff in each position) This document should be named [Company Legal Name] Management Chart. Note: The positions/divisions listed on the document should correspond to the business activities listed in the Business Plan and the MU1 of the NMLS. 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 the Document Type Management Chart in the Document Uploads section of the Company Form (MU1).

13. Step 13

    Mortgage Servicing Agreement: Submit a copy of any written (fully executed) agreement or contract related to mortgage servicing rights, including: • Servicing Agreements; • Sub-Servicing Agreements These documents should be named [Servicing Company Name] Mortgage Servicing Agreement or Mortgage Sub-Servicing Agreement

    Submitted via: Upload in NMLS: under the Document Type Mortgage Servicing Agreement in the Document Uploads section of the Company Form (MU1).

14. Step 14

    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% on the chart for review); • Indirect Owners (including all parent companies or individuals going back to an individual or publicly traded company equating to 100% of ownership on the chart for review); 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. Identify which entities/individuals have voting rights of >/= 10%, and if Trusts have ownership/indirect ownership, provide copies of the Trust Agreements. Note: Subsidiaries and Affiliates are also to be listed in the MU1 of the NMLS.

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

15. Step 15

    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).

16. Step 16

    Verification of Experience: Provide a license 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 license. Detailed job descriptions and duties with all employers need to be incorporated into a resume to demonstrate experience related to the specific state license 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 mortgage servicing if the lender will also service or master service, or submit a secondary QI for the servicing activity); 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 must match up to the employment history on the Individual Form (MU2). This document should be named [QI Resume - Verification of Experience] – License Name.

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

17. Step 17

    ESCROW/TRUST ACCOUNT: Provide a copy of the last bank statement for applicant’s escrow account with an FDIC-insured institution through which borrower payments are processed. Note: Not applicable for Master Servicer only.

    Submitted via: Upload Account statement to NCCOB Website/Company Documents: Please upload escrow/trust account statement 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. After logging in, click on Company Documents to upload the statement, titled Escrow or Trust Account Statement.

18. Step 18

    SCHEDULE OF THE RANGE OF COSTS AND FEES: Enter the schedule of the range of costs and fees charged to borrowers for the company’s servicing-related activities. For master servicers, enter sub-servicer company name and NMLS ID. Provide the requested information at NCCOB’s website at: https://www.nccob.gov/online/Login.aspx.

    Submitted via: Upload Account statement to NCCOB Website: Please upload escrow/trust account statement 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. After logging in, click on Servicer Fee Schedule and enter the range of fees that may be charged. If master servicing, enter the sub-servicer company information at the top of the form.

19. Step 19

    BOOKS AND RECORDS: Licensees are required to maintain their books and records for North Carolina residential mortgage loans at a designated location within the State. If, however, the company wishes store such records out-of-state, it is required to submit a written request to the NC Commissioner of Banks. The written request can be completed on our system at the following link: https://www.nccob.gov/online/ . Please note that you cannot access this automated request form until one business day after application through the NMLS. Note: The request should contain all elements of N. C. Administrative Code 04NCAC 03M .0502 (see also below) and list the specific street address where records will be stored (match to NMLS MU1 Books and Records screen address). If the licensee uses a third party for record storage, please provide the street address and a copy of the executed agreement (if applicable, agreement uploads can be done in the system when completing the request form). 04 NCAC 03M .0502 FORM AND LOCATION OF RECORDS (a) The records may be maintained in any form that is convertible into legible, tangible documents by the licensee. (b) All records required by this Section shall be prepared in accordance with generally accepted accounting principles, where applicable. (c) All records required to be maintained shall be secured against unauthorized access and damage in a location within the State accessible to the Commissioner. However, a licensee or registrant that maintains a centralized out-of-state storage facility for the records from multiple states may request the Commissioner to approve its storage of such records in such out-of-state location. The requests shall be approved provided that: (1) the Commissioner determines that the proposed storage will ensure that the records are secured against unauthorized access and damage; and (2) the licensee or registrant agrees in writing to make available at its expense for inspection and copying upon request by the Commissioner copies of all requested records in a form that satisfies the requirements of Paragraph (a) of this Rule. (d) If the Commissioner has reason to believe that records are not or will not be secured against unauthorized access or damage, the Commissioner shall summarily revoke any approval granted under Paragraph (c) of this Rule. (e) A licensee or registrant shall notify the Commissioner of any change in the location of its books and records within 15 days following such change.

    Submitted via: Complete a Books and Records Request to 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 Books & Records and complete the online request form as prompted.

20. Step 20

    Lease Agreement: Upload a copy of the lease agreement for the principal office location that, at a minimum: • must be in the name of the applying licensee (i.e. business/company name) as the tenant; • clearly states all parties to the lease; • clearly states the terms of the lease; • describes the leased premises; and, • is signed by a company official and landlord. If the lease is a sublease, provide written approval from the master lessor that they are aware of and agree to the property being subleased (consent to sublease), along with a copy of the executed master lease. If the mortgage servicer owns the building instead of leases the location, deed documentation can be provided in lieu of the lease to show the owner as the mortgage servicer business. Note: Principal office - A principal place of business that shall consist of at least one enclosed room or building of stationary construction in which negotiations of residential mortgage loan transactions may be conducted and carried on in privacy and in which all of the books, records, and files pertaining to residential mortgage loan transactions relating to borrowers in this State are maintained. A principal office shall not be located at an individual’s home or residence (see N.C. General Statute § 53-244.030 (26)).

    Submitted via: Upload in NMLS: under the Document Type Company Staffing and Internal Policies in the Document Uploads section of the Company Form (MU1).

21. Step 21

    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

22. Step 22

    Disclosure Questions: Provide a complete and detailed explanation and document upload for each “Yes” response to Disclosure Questions made by the company or related control persons (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).

23. Step 23

    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 persons for the mortgage lender. Control is defined in North Carolina General Statute § 53-244-30(7): 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 Origination Support Registration
• All 7 North Carolina licenses

Sourced from the NMLS/CSBS state licensing record, last updated October 28, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.