9/09/2021

North Carolina Mortgage

 

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.