A North Carolina firm in 2026 will only process and underwrite loans for others. Which authorization covers a mortgage origination support firm engaging exclusively in those activities?
Correct Answer
A) A registration authorizes exactly that and not the mortgage business
Registration means the approval granted to a mortgage origination support registrant to engage exclusively in the processing or underwriting of residential mortgage loans but not the mortgage business. Other choices: North Carolina has a distinct registration for this rather than folding it into a license; some authorization is required; and it is neither the broker nor the lender license. Source: 04 NCAC 03M .0101(9)
Why This Is the Correct Answer
Registration means the approval granted to a mortgage origination support registrant to engage exclusively in the processing or underwriting of residential mortgage loans but not the mortgage business. Other choices: North Carolina has a distinct registration for this rather than folding it into a license; some authorization is required; and it is neither the broker nor the lender license. Source: 04 NCAC 03M .0101(9)
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