Section .0200 - Licensing

Link to law: http://reports.oah.state.nc.us/ncac/title 04 - commerce/chapter 03 - banking commission/subchapter m/04 ncac 03m .0201.html
Published: 2015

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SECTION .0200 - LICENSING

 

04 NCAC 03M .0201         APPLICATION

(a)  All fees required by G.S. 53-244.090 or 53-244.101

shall be submitted with an application for licensure or renewal of license as a

mortgage lender, mortgage broker, mortgage servicer, exclusive mortgage broker

or mortgage loan originator.  The fees are nonrefundable.

(b)  Each type of application required by the rules in this

Subchapter or the Act shall be filed through the NMLS&R and shall be

verified by the oath or affirmation of the applicant or a principal officer

thereof.

(c)  In addition to the documents and information required

by the rules in this Subchapter, the Commissioner or his or her staff may

require additional information according to the Rules in order to enable the

Commissioner to determine that the applicant meets or the licensee continues to

meet the requirements of G.S. 53-244.040, 53-244.050, 53-244.060, 53-244.070,

53-244.080, 53-244.100, 53-244.101, 53-244.102, 53-244.103, 53-244.104, and

53-244.105.

(d)  Applications submitted without the required fees or

which are missing material information shall be held in pending status for a

period of 30 calendar days after written notice to the applicant specifying the

nature of the deficiency.  If any such deficiency remains outstanding for more

than 30 days, the application shall automatically be considered withdrawn

without further action by the Commissioner, and the applicant shall submit a

new application and pay all fees associated therewith.

 

History Note:        Authority G.S. 53-244.040, 53-244.050;

53-244.060; 53-244.070, 53-244.080, 53-244.100; 53-244.101; 53-244.102;

53-244.103; 53-244.104; 53-244.118;

Temporary Adoption Eff. July 1, 2002;

Eff. April 1, 2003;

Amended Eff. May 1, 2010.