Mortgage Broker Officereal estate broker office
North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act, as amended by NCGS Section 53, Section 19B, provides that any entity involved in the creation or brokerage of mortgage backed securities of North Carolina property shall be licenced by the NC Office of the Commissioner of Banks, unless an exception under NCGS Section 53-244.040(d) is made.
Mortgagors and mortgage intermediaries must apply via the NMLS website. A corresponding guarantee (see below) must be indicated in the request. Qualified persons and each store director must have at least three (3) years of private construction finance expertise. A qualified person may, in supplement to head office tasks, act as a head of a subsidiary, otherwise a head of a subsidiary may head only one subsidiary.
First and foremost, the qualified person is in charge of the licensee's operation. The North Carolina government must approve all branches that grant or broker mortgage credit (N.C.G.S. 53.244.030(30)) backed by commercial property in North Carolina (N.C.G.S. 53.244.030(31)). Each establishment must have a specific head of establishment.
NMLS submits all proposals and changes (branch managers, changes of addresses, etc.) via the NMLS website. In order to shut down a subsidiary, a return / cancelation must be filed via NMLS. Borrowing requirements start at $75,000 for a broker and $150,000 for a creditor. The following table is restated on the basis of the credit approval volumes at 31 December of each year.