Monday, May 11, 2009

North Carolina Mortgage Servicer Licensing Requirements Effective January 1, 2009

North Carolina House Bill 2463 becomes effective on January 1, 2009. The legislation requires mortgage servicers to be licensed by the North Carolina Commissioner of Banks before acting as a mortgage servicer.

The bill also changes the brick and mortar requirements for mortgage brokers to specify that a mortgage broker’s physical location in North Carolina may not be a home or residence.