+ $1.50 NMLS Credit Banking Fee
|Purpose:||1 hour of state-specific online continuing education course for North Carolina mortgage loan originators.|
|Features:||online text, printable certificate, PDF eBook|
|Category:||Mortgage > Continuing Education > North Carolina > CE Elective|
7405 SW Beveland Rd,
Portland, OR 97223
NMLS Course ID: 7925
NMLS Sponsor ID: 1400327
The North Carolina Commissioner of Banks (NCCOB) requires mortgage licensees in this state to take a one-hour course on North Carolina mortgage lending rules as part of the licensees' annual continuing education requirement for license renewal. This course covers four North Carolina mortgage topics for licensee continuing education.
The first module of this course reviews conduct and behavior that is prohibited by North Carolina laws. This includes the fees that can be charged on a mortgage loan transactions and the limits for those fees.
The second module describes the various disciplinary actions the Commissioner of Banks may issue against licensees who violate state law.
The third module outlines the North Carolina Reverse Mortgage Act, found in NCGS Chapter 53, Article 21. We'll review how a reverse mortgage is defined, how a lender is granted authority by the Commissioner to issue reverse mortgages, the state limitations on this type of loans, and at what point a borrower is required to repay the reverse mortgage.
The last module of this course explains the North Carolina Residential Mortgage Fraud Act (RMFA), NCGS Chapter 14, Article 20A. We'll learn about the definition of mortgage fraud and identify various tasks that would qualify as mortgage fraud.
This course is broken down into several learning topics. At the end of the course a 15-question final exam will be given. The topics included in this course are:
This course will prepare North Carolina-licensed MLOs to:
Total study time: 1 clock hour
You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.
If you already have an NMLS ID but don't remember what it is:
If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center.
To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.