North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 03 - BANKING COMMISSION
Subchapter M - MORTGAGE LENDING
Section .0200 - LICENSING
Section 03M .0204 - EXPERIENCE
Universal Citation: 04 NC Admin Code 03M .0204
Current through Register Vol. 39, No. 6, September 16, 2024
As used in G.S. 53-244.050(b)(2), an individual is considered to have acquired "experience in residential mortgage lending" during any documented period in which:
(1) more than half of the individual's employment income was derived from employment in the mortgage lending, mortgage servicing, or mortgage brokerage industry; and
(2) that individual had actual responsibility for job functions in each area of study included in a prelicensing education program.
Authority
G.S.
244-118;
Eff. April 1,
2003;
Amended Eff. May 1, 2010; April 1, 2008;
Readopted Eff. August 1, 2018.
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