reglab/housing_qa huggingface dataset:
NC Gen Stat § 53-244.090 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.090 - Application fees.

 53-244.090. Application fees.(a) Every applicant for initial licensure shall pay a nonrefundable filing fee of one thousand two hundred fifty dollars ($1,250) for licensure as a mortgage broker, mortgage lender, or mortgage servicer, three hundred dollars ($300.00) for licensure as an exclusive mortgage broker, or one hundred twenty-five dollars ($125.00) for licensure as a mortgage loan originator or transitional mortgage loan originator.Every applicant for initial registration as a mortgage origination support registrant shall pay a nonrefundable filing fee of (i) two hundred fifty dollars ($250.00) for applicants who employ or contract with fewer than a total of five individuals engaged solely as loan processors or underwriters, (ii) one thousand dollars ($1,000) for applicants who employ or contract with between a total of five and 30 individuals engaged solely as loan processors or underwriters, or (iii) two thousand dollars ($2,000) for applicants who employ or contract with more than a total of 30 individuals engaged solely as loan processors or underwriters.In addition, every applicant for initial licensure or registration must pay the actual cost of obtaining a credit report, State and national criminal history record checks, and the processing fees required by the Nationwide Mortgage Licensing System and Registry.(b) Each principal and each branch office of a mortgage broker or mortgage lender licensed under the provisions of this Article shall be issued a separate license for which the Commissioner shall assess a nonrefundable filing fee of three hundred dollars ($300.00) in addition to the Nationwide Mortgage Licensing System and Registry processing fee. A licensed mortgage broker or mortgage lender shall file with the Commissioner a notice on a form prescribed by the Commissioner that identifies the address of the principal office and each branch office and its designated branch manager. Payment of the license fee under subsection (a) of this section shall be deemed to cover the location license fee for the principal office of each mortgage lender, mortgage broker, or mortgage servicer without payment of an additional three hundred dollars ($300.00) under this subsection.  (2009-374, s. 2; 2010-168, s. 4; 2013-327, s. 5; 2015-293, s. 1.)
NC Gen Stat § 53-244.100A (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.100A - Assessments.

 53-244.100A. Assessments.(a) For the purpose of meeting the cost of regulation under this Article, each mortgage lender, mortgage broker, and mortgage servicer licensed under this Article shall pay into the OCOB an assessment as provided in this subsection. The annual assessment shall consist of a base amount of two thousand dollars ($2,000) for volumes of no more than one million five hundred thousand dollars ($1,500,000) plus an additional sum, calculated on the loan and servicing dollar volume reported by the licensee to the OCOB for the previous calendar year. If a licensee has both loan and servicing volume, those amounts shall be added together and the assessment shall be calculated from the table below as follows:Loan and/or Servicing Dollar Volume  Per Thousand   $1,500,001 to  $2,500,000  $0.07   $2,500,001 to  $5,000,000  $0.06   $5,000,001 to  $10,000,000  $0.05   $10,000,001 to  $30,000,000  $0.04   $30,000,001 to  $100,000,000  $0.03   $100,000,001 to  $1,300,000,000  $0.02  More Than $1,300,000,001   $0.01  (b) The Commissioner may collect the assessment provided for in subsection (a) of this section annually or in periodic installments as approved by the Commission.  (2012-37, s. 1.)
NC Gen Stat § 53-244.102 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.102 - Continuing education for mortgage loan originators.

 53-244.102. Continuing education for mortgage loan originators.(a) A licensed mortgage loan originator shall annually complete at least eight hours of continuing education approved in accordance with subsection (b) of this section, including:(1) Three hours of federal law and regulations;(2) Two hours of ethics, including instruction on fraud, consumer protection, and fair lending issues;(3) Two hours of training related to lending standards for nontraditional mortgage products; and(4) One hour of North Carolina law and regulations.(b) Continuing education courses shall be reviewed and approved by the Nationwide Mortgage Licensing System and Registry based upon reasonable standards. Approval of a continuing education course shall include approval of the course provider.(c) Nothing in this section shall preclude any continuing education course, approved by the Nationwide Mortgage Licensing System and Registry, that is provided by the employer of the mortgage loan originator or an entity affiliated with the mortgage loan originator by an agency contract, or any subsidiary or affiliate of such employer or entity. Continuing education may be offered either in a classroom, online, or by any other means approved by the Nationwide Mortgage Licensing System and Registry.(d) A licensed mortgage loan originator:(1) Except for G.S. 53-244.070(a) and subsection (e) of this section, may receive credit for a continuing education course taken prior to the end of the reinstatement period under G.S. 53-244.101(d); and(2) May not take the same approved course in the same or successive years to meet the annual requirements for continuing education.(e) A licensed mortgage loan originator who is an approved instructor of an approved continuing education course may receive credit for the licensed mortgage loan originator's own annual continuing education requirement at the rate of two hours credit for every one hour taught.(f) A licensee having successfully completed the education requirements approved by the Nationwide Mortgage Licensing System and Registry in subdivisions (a)(1), (a)(2), and (a)(3) of this section for any state shall be accepted as credit toward completion of continuing education requirements in North Carolina.  (2009-374, s. 2; 2013-412, s. 3.)
NC Gen Stat § 53-244.104 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.104 - Minimum net worth requirements.

 53-244.104. Minimum net worth requirements.(a) A minimum net worth shall be continuously maintained for licensees in accordance with this section. In the event that the mortgage loan originator or transitional mortgage loan originator is an employee or exclusive agent of a person subject to this Article, the net worth of the person subject to this Article can be used in lieu of the mortgage loan originator's or transitional mortgage loan originator's minimum net worth requirement. The minimum net worth to be maintained for each license is as follows:(1) If the licensee is a mortgage lender, it shall maintain a net worth of at least one hundred thousand dollars ($100,000), including evidence of liquidity of one million dollars ($1,000,000), which may include a warehouse line of credit of one million dollars ($1,000,000) or other evidence of funding capacity to conduct mortgage originations as documented by an unqualified audited statement of financial condition.(2) If the licensee is a mortgage servicer, it shall maintain a net worth of at least one hundred thousand dollars ($100,000), not including monies in any escrow accounts held for others.(3) If the licensee is a mortgage broker, it shall maintain a net worth of at least twenty-five thousand dollars ($25,000), including evidence of liquidity of ten thousand dollars ($10,000), as certified by the licensee in a certified statement of financial condition.(b) The Commissioner may adopt rules to require additional minimum net worth or otherwise amend net worth requirements as are necessary to ensure licensees maintain adequate financial responsibility and accomplish the purposes of this Article.  (2009-374, s. 2; 2013-327, s. 8.)
NC Gen Stat § 53-244.105 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.105 - Records, addresses, escrow funds, or trust accounts.

 53-244.105. Records, addresses, escrow funds, or trust accounts.(a) Every licensee or registrant shall make and keep the accounts, correspondence, memoranda, papers, books, and other records as prescribed in rules adopted by the Commissioner. All records shall be preserved for three years unless the Commissioner, by rule, prescribes otherwise for particular types of records.(b) No person shall make any false statement or knowingly and willfully make any omission of a material fact in connection with any information or reports filed with the Commissioner, a governmental agency, or the Nationwide Mortgage Licensing System and Registry or in connection with any oral or written communication with the Commissioner or another governmental agency. If the information contained in any document filed with the Commissioner or the Nationwide Mortgage Licensing System and Registry is or becomes inaccurate or incomplete in any material respect, the licensee, registrant, or exempt entity shall within 30 days file a correcting amendment to the information contained in the document.(c) The Commissioner may, by rule, impose terms and conditions under which the records and files of a mortgage lender, mortgage broker, mortgage servicer, or mortgage origination support registrant may be maintained outside of this State. Except for a mortgage origination support registrant, a principal place of business shall not be located at an individual's home or residence. A mortgage lender, mortgage broker, or mortgage servicer licensee, or a mortgage origination support registrant, shall maintain a record of the principal place of business with the Commissioner and report any change of address of the principal place of business or any branch office within 15 days after the change.(d) A licensee shall maintain in a segregated escrow fund or trust account any funds which come into the licensee's possession but which are not the licensee's property and which the licensee is not entitled to retain under the circumstances. The escrow fund or trust account shall be held on deposit in a federally insured financial institution. Individual loan applicants' or borrowers' accounts may be aggregated into a common trust fund so long as (i) interests in the common fund can be individually tracked and accounted for and (ii) the common fund is kept separate from and is not commingled with the licensee's own funds.  (2009-374, s. 2; 2015-293, s. 1.)
NC Gen Stat § 53-244.106 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.106 - Display of license.

 53-244.106. Display of license.Each mortgage broker or mortgage lender licensed under this Article shall display, in plain public view, the certificate of licensure issued by the Commissioner in its principal office and in each branch office. Each mortgage loan originator or transitional mortgage loan originator licensed under this Article shall display, in plain public view, in each branch office in which the individual acts as a mortgage loan originator or transitional mortgage loan originator the certificate of licensure issued by the Commissioner.  (2009-374, s. 2; 2013-327, s. 9.)
NC Gen Stat § 53-244.107 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.107 - Unique identifier shown.

 53-244.107. Unique identifier shown.The unique identifier of any mortgage loan originator, transitional mortgage loan originator, or other person engaged in the mortgage business as defined in G.S. 53-244.030(11) shall be clearly shown on all residential mortgage loan application forms, solicitations, advertisements, including business cards or Web sites, and any other documents as established by rule or order of the Commissioner.  (2009-374, s. 2; 2013-327, s. 10.)
NC Gen Stat § 53-244.108 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.108 - Reports.

 53-244.108. Reports.Each mortgage lender, mortgage broker, mortgage servicer licensee, or mortgage origination support registrant shall submit to the Commissioner and to the Nationwide Mortgage Licensing System and Registry reports of condition and any other reports requested by the Commissioner pursuant to G.S. 53-244.115(d). The reports shall be in the form and shall contain any information that the Commissioner or Nationwide Mortgage Licensing System and Registry may require.  (2009-374, s. 2; 2015-293, s. 1.)
NC Gen Stat § 53-244.109 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.109 - Mortgage broker duties.

 53-244.109. Mortgage broker duties.Any mortgage broker engaged in the mortgage business as defined by G.S. 53-244.030(11)a., in addition to duties imposed by other statutes or at common law, shall do all of the following:(1) Safeguard and account for any money handled for the borrower.(2) Follow reasonable and lawful instructions from the borrower.(3) Act with reasonable skill, care, and diligence.(4) Make reasonable efforts to secure a loan that is reasonably advantageous to the borrower considering all the circumstances, including the rates, charges, and repayment terms of the loan.(5) Timely and clearly disclose to the borrower material information that may be expected to influence the borrower's decision and is reasonably accessible to the mortgage broker, including the total compensation the mortgage broker expects to receive from any and all sources in connection with each loan option presented to the borrower.(6) Notify before closing each lender of the particulars of each of the other lender's loans if the mortgage broker knows that more than one mortgage loan will be made by different lenders contemporaneously to a borrower.(7) Ensure that any services offered to any applicant shall be available and offered to all similarly situated applicants on an equal basis.(8) In transactions where the mortgage broker has the ability to make credit decisions, use reasonable means to provide the borrower with prompt credit decisions on its loan applications and, where the credit is denied, to comply fully with the notification requirements of applicable State and federal law.(9) Ensure that advertising materials are designed to make customers and potential customers aware that the mortgage broker does not discriminate on any prohibited basis.(10) Represent the borrower's best interest in the course of brokering a mortgage loan.(11) Have a duty of loyalty to the borrower, which shall include a duty not to compromise a borrower's right or interest in favor of another's right or interest, including a right or interest of the mortgage broker.  (2009-374, s. 2.)
NC Gen Stat § 53-244.110 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.110 - Mortgage servicer duties.

 53-244.110. Mortgage servicer duties.Any mortgage servicer engaged in the mortgage business as defined by G.S. 53-244.030(11)c., in addition to duties imposed by other statutes or at common law, shall do all of the following:(1) Safeguard and account for any money handled for the borrower.(2) Follow reasonable and lawful instructions from the borrower.(3) Act with reasonable skill, care, and diligence.(4) File with the Commissioner a complete, current schedule of the ranges of costs and fees it charges borrowers for its servicing-related activities with its application and renewal and with its supplemental filings made from time to time.(5) File with the Commissioner upon request a report in a form and format acceptable to the Commissioner detailing the servicer's activities in this State, including:a. The number of mortgage loans the servicer is servicing.b. The type and characteristics of the loans in this State.c. The number of serviced loans in default, along with a breakdown of 30-, 60-, and 90-day delinquencies.d. Information on loss mitigation activities, including details on workout arrangements undertaken.e. Information on foreclosures commenced in this State.(6) At the time a servicer accepts assignment of servicing rights for a mortgage loan, the servicer shall disclose to the borrower all of the following:a. Any notice required by RESPA or by regulations promulgated thereunder.b. A schedule of the ranges and categories of its costs and fees for its servicing-related activities, which shall comply with North Carolina law and which shall not exceed those reported to the Commissioner.c. A notice in a form and content acceptable to the Commissioner that the servicer is licensed by the Commissioner and that complaints about the servicer may be submitted to the Commissioner.d. Any notice required by Article 2A, 4, or 10 of Chapter 45 of the General Statutes.(7) In the event of a delinquency or other act of default on the part of the borrower, the mortgage servicer shall act in good faith to inform the borrower of the facts concerning the loan and the nature and extent of the delinquency or default and, if the borrower replies, to negotiate with the borrower, subject to the mortgage servicer's duties and obligations under the mortgage servicing contract, if any, to attempt a resolution or workout to the delinquency.  (2009-374, s. 2.)
NC Gen Stat § 53-244.112 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.112 - Criminal penalties for unlicensed activity.

 53-244.112. Criminal penalties for unlicensed activity.Engaging in the mortgage business as defined by G.S. 53-244.030(11) or acting as a mortgage loan originator without a license as required by the provisions of G.S. 53-244.040 is a Class 3 misdemeanor. Each transaction involving unlicensed activity is a separate offense.  (2009-374, s. 2.)
NC Gen Stat § 53-244.113 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.113 - Regulatory authority.

 53-244.113. Regulatory authority.(a) Unless otherwise provided, all actions, hearings, and procedures under this Article shall be governed by Article 3A of Chapter 150B of the General Statutes.(b) For purposes of this Article, the Commissioner shall be deemed to have complied with the requirements of law concerning service of process upon mailing by certified mail any notice required or permitted to a licensee or registrant under this Article, postage prepaid and addressed to the last known address of the licensee or registrant on file with the Commissioner pursuant to G.S. 53-244.105(c).(c) Upon the issuance of any summary order permitted under this Article, including summary suspensions and cease and desist orders, the Commissioner shall promptly notify the person subject to the order that the order has been entered and the reasons for the order. Within 20 days of receiving notice of the order, the person subject to the order may request in writing a hearing before the Commissioner. Upon receipt of such a request, the Commissioner shall calendar a hearing within 15 days. If a licensee or registrant does not request a hearing, the order will remain in effect unless it is modified or vacated by the Commissioner.  (2009-374, s. 2; 2015-293, s. 1.)
NC Gen Stat § 53-244.118 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.|§ 53-244.118 - Rule-making authority; records.

 53-244.118. Rule-making authority; records.(a) The Commissioner may adopt any rules that the Commissioner deems necessary to carry out the provisions of this Article, to provide for the protection of the borrowing public, to prohibit unfair or deceptive practices, to instruct mortgage lenders, mortgage brokers, mortgage servicers, mortgage loan originators, transitional mortgage loan originators, or registrants in interpreting this Article, and to implement and interpret the provisions of G.S. 24-1.1E, 24-1.1F, and 24-10.2 as they apply to licensees and registrants under this Article.(b) The Commissioner shall keep a list of all applicants for licensure or registration under this Article or claimants of exempt status under G.S. 53-244.050(g) that includes the date of application, name, place of residence, and whether the license, registration, or claim of exempt status was granted or denied.(c) The Commissioner shall keep a current roster showing the names and places of business of all licensees and registrants that shows their respective mortgage loan originators and transitional mortgage loan originators and a roster of exempt persons required to file a notice under G.S. 53-244.050(g). The roster shall meet all of the following requirements:(1) Be kept on file in the office of the Commissioner.(2) Contain information regarding all orders or other actions taken against the licensees, registrants, and other persons.(3) Be open to public inspection.  (2009-374, s. 2; 2013-327, s. 14; 2015-293, s. 1.)