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Under NC SAFE, what types of licenses can an individual obtain?

April 26, 2017individual licenses NC obtain safe types

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Under NC SAFE, what types of licenses can an individual obtain?

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a. A “Mortgage Loan Originator” license, which authorizes an individual, while a W-2 employee by a licensed Mortgage Lender or Mortgage Broker · To take residential mortgage loan applications or offer to negotiate terms of residential mortgage loan, · Accept or offer to accept applications for residential mortgage loans, · Solicit or offer to solicit a mortgage loan, · Negotiate the terms and conditions of a residential mortgage loan, or · Issue mortgage loan commitments or interest rate guarantee agreements to prospective borrowers. b. An “Exclusive Mortgage Broker” license, which authorizes an individual to act as a Mortgage Broker exclusively for a single mortgage broker or lender or a single exempt mortgage lender. Exclusive Mortgage Brokers are not required to be W-2 employees of the mortgage lender or broker for whom they broker loan as agent, nor are they required to have three years of experience in residential mortgage lending. However, Exclusive Mortgage Brokers must also hol