North Carolina § 53-244 - 119. Commissioner's participation in nationwide registry.

§ 53-244. 119. Commissioner's participation in nationwide registry.

The Commissioner shall require mortgage loan originators and transitional mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing System and Registry. In order to carry out this requirement, the Commissioner is authorized to participate in the Nationwide Mortgage Licensing System and Registry. For this purpose, the Commissioner may establish by rule any requirements as necessary, including: Background checks for: Criminal history through fingerprint or other databases; Civil or administrative records; Credit history; or Any other information as deemed necessary by the Nationwide Mortgage Licensing System and Registry. The payment of fees to apply for, renew, or amend licenses through the Nationwide Mortgage Licensing System and Registry; The setting or resetting as necessary of renewal or reporting dates; and Requirements for amending or surrendering a license or any other activities as the Commissioner deems necessary for participation in the Nationwide Mortgage Licensing System and Registry. The Commissioner is authorized to establish relationships or contracts with the Nationwide Mortgage Licensing System and Registry or other entities designated by the Nationwide Mortgage Licensing System and Registry to collect and maintain records and process transaction fees or other fees related to licensees, registrants, or other persons subject to this Article. For the purpose of participating in the Nationwide Mortgage Licensing System and Registry, the Commissioner is authorized to waive or modify, in whole or in part, any or all of the requirements of this Article and to establish new requirements as reasonably necessary to participate in the Nationwide Mortgage Licensing System and Registry. The Commissioner is authorized to enter into agreements to license the use of the proprietary software owned by the Office of the Commissioner of Banks to banking, mortgage, or financial services supervisory agencies of other states. Repealed by Session Laws 2012-37, s. 4, effective October 1, 2012. History (2009-374, s. 2; 2010-168, s. 6; 2012-37, s. 4; 2013-327, s. 15; 2015-293, s. 1.) Editor's Note. - Session Laws 2013-327, s. 17, made the amendment to subsection (a) by Session Laws 2013-327, s. 15, applicable to applications for licensure as a transitional mortgage loan originator filed on or after September 1, 2013. Session Laws 2015-293, s. 4, made the amendment to this section by Session Laws 2015-293, s. 1, applicable to all applications for registration as a mortgage origination support registrant filed on or after November 1, 2015. Session Laws 2015-293, s. 2 is a severability clause. Session Laws 2015-293, s. 3, provides: "The Commissioner of Banks may adopt temporary rules to administer this act." Effect of Amendments. - Session Laws 2010-168, s. 6, effective September 1, 2010, added subsection (e). Session Laws 2012-37, s. 4, effective October 1, 2012, repealed subsection (e), which allowed the Commissioner to require a licensee to pay a reasonable administrative processing fee for licensing status changes. Session Laws 2013-327, s. 15, effective September 1, 2013, inserted "and transitional mortgage loan originators" in the first sentence of subsection (a). For applicability, see editor's note. Session Laws 2015-293, s. 1, effective November 1, 2015, inserted "registrants" following "related to licensees" near the end of subsection (b). For applicability, see editor's note.