North Carolina Mortgage Lender Loan Laws
Unless they are exempt, the North Carolina Commissioner of Banks
licenses all mortgage lenders, brokers, servicers, and loan officers under
North Carolina General Statutes (NCGS):
§53-270.01
§53-255.01
§53-245.01
§53-243.01You correctly checked this.
The North
Carolina Commissioner of Banks licenses all mortgage lenders, brokers,
servicers, and loan officers under North Carolina General Statutes (NCGS)
53-243.01 unless exempt by statute.
All bank and savings bank holding companies that operate within
North Carolina, either directly or indirectly, must register on an annual basis
no later than:
1st July
1st April
31st December
30th July
All bank
and savings bank holding companies that operate within North Carolina, either
directly or indirectly, must register with this office within 180 days of
conducting business within the State and there after on an annual basis no
later than 1st of July, every year in accordance with NC GS 53-225, et seq.
The State Banking Commission consists of the State Treasurer and:
15 appointed
members
14 appointed
members
7 appointed
members
21 appointed
members.
The State
Banking Commission supervises, directs and reviews the activities of the Office
of the Commissioner of Banks. The Commission consists of the State Treasurer
and 21 appointed members.
The NCCOB regulates ALL the following EXCEPT:
Money
transmitters
Check cashers
Debt
adjusters.
Tax refund
anticipation loan facilitators
The NCCOB
regulates commercial banks, savings banks, savings and loan associations, bank
holding companies and savings bank holding companies, consumer finance
companies, tax refund anticipation loan facilitators, mortgage lenders,
brokers, servicers and loan officers, money transmitters, reverse mortgage
lenders, trust licensees and check cashing businesses. However; it does not
regulate debt adjusters.
All companies performing fiduciary activities within North Carolina
must apply for a license each calendar year in accordance with:
N.C.G.S.
53-159.1.
N.C.G.S.
53-158.1
N.C.G.S.
53-173.1
N.C.G.S.
53-163.1
All
companies performing fiduciary activities within North Carolina must apply for
a license each calendar year in accordance with N.C.G.S. 53-159.1.
After conducting business
within the State, all bank and savings bank holding companies that operate
within North Carolina, either directly or indirectly, must register with the
Office of the Commissioner of Banks within:
12
months
1
month
3
months
6
months
All bank and savings bank holding
companies that operate within North Carolina, either directly or indirectly,
must register with this office within 180 days of conducting business within
the State and there after on an annual basis no later than July 1st of every
year in accordance with NC GS 53-225, et seq. All companies performing
fiduciary activities within North Carolina must apply for a license each
calendar year in accordance with NCGS 159.1
After conducting business within the State, all bank and savings
bank holding companies that operate within North Carolina, either directly or
indirectly, must register with the Office of the Commissioner of Banks within:
30 days
90 days
180
days.
60 days
All bank
and savings bank holding companies that operate within North Carolina, either
directly or indirectly, must register with this office within 180 days of
conducting business within the State and there after on an annual basis no
later than July 1st of every year in accordance with NC GS 53-225, et seq. All
companies performing fiduciary activities within North Carolina must apply for
a license each calendar year in accordance with NCGS 159.1.
Score:
100%
Question 2
The State Banking Commission consists of the State Treasurer and:
7 appointed
members
21
appointed membersYou should have checked this.
14 appointed.
15 appointed
members
The State
Banking Commission supervises, directs and reviews the activities of the Office
of the Commissioner of Banks. The Commission consists of the State Treasurer
and 21 appointed members.
The Office of the Commissioner of Banks is supervised by the:
State
Banking CommissionYou should have checked this.
Federal Reserve
State Governor
State Senate
The State
Banking Commission is responsible for supervising the office of the
Commissioner of Banks which licenses and regulates the business activities of
mortgage lenders, brokers, servicers and mortgage loan originators. The
Commissioner of Banks licenses all mortgage lenders, brokers, servicers, and
loan officers under North Carolina General Statutes (NCGS) 53-243.01 unless
they are exempt.
The NCCOB regulates ALL the following EXCEPT:
Consumer
finance companies
Insurance
companiesYou correctly checked this.
Tax refund
anticipation loan facilitators
Savings and
loans associations
The NCCOB
regulates commercial banks, savings banks, savings and loan associations, bank
holding companies and savings bank holding companies, consumer finance
companies, tax refund anticipation loan facilitators, mortgage lenders,
brokers, servicers and loan officers, money transmitters, reverse mortgage
lenders, trust licensees and check cashing businesses. However it does not
regulate insurance companies.
Select the action that is NOT a regulatory duty of North Carolina's
OCOB.
Conducting
examinations of Mortgage Lenders and Brokers licensed by NC every 12
monthsYou should have checked this.
Conducting
criminal investigations and issue disciplinary.
Monitoring
Surety Bond and net worth requirements
Overseeing
operations of banking, and real estate industries
NCCOB
conducts examinations of licensed mortgage lenders and brokers approximately
every 36 months.
