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Mortgage Loan Originator Background Check Requirements in North Carolina

Today, we discuss the mortgage loan originator background check requirements in North Carolina. You may be aware that a required background check must be submitted with your application to become a North Carolina Mortgage Loan Originator. If you are interested in becoming a licensed North Carolina Mortgage Loan Originator, have you started your application and are wondering about the required background check and fingerprinting process? We are here to help you! In this video, we will explain the background check requirement and how it pertains to your North Carolina Mortgage Loan Originator license application. By requiring states to, among other things, set minimum standards for the licensing and registration of state-licensed mortgage loan originators and to establish and maintain a national mortgage licensing system and registry for the residential mortgage industry, the SAFE Mortgage Licensing Act was created to improve consumer protection and lower fraud. A basic criteria for registering and licensing mortgage loan originators is laid down in the SAFE Act. Conducting a background check is a vital precaution that keeps the workplace honest and safe. A background check also confirms that you possess the necessary training and credentials to succeed as a mortgage loan originator. As you can imagine, an MLO license carries a need for an exceptionally high degree of personal responsibility and a demonstration of upstanding personal character. You are being entrusted with large financial transactions, and must be trusted to do so honorably and truthfully. Such being the case, per the regulations set forth by the NMLS Resource Center, every mortgage loan originator, whether state or federally registered, is required to complete a Criminal Background Check, or CBC, through NMLS. Completion of the Criminal Background Check Authorization Request is required for submission of your application form. State licensure requires completing the Form MU4 for your background check. The criminal background check performed is a Federal Bureau of Investigations level check. If you’ve found this video, you’re probably looking for more info on: • mortgage loan originator background check • loan originator background check requirements in North Carolina • getting your North Carolina mortgage loan originator license • North Carolina mortgage career • how to be a mortgage loan originator in North Carolina • career as a mortgage loan originator • do I need a degree to be a mortgage loan originator? • how much can a mortgage loan originator make? • loan originator job description and salary Each MLO applicant must provide a set of fingerprints via NMLS in accordance with the SAFE Act. Prior fingerprints for real estate salesperson or broker licensure submitted to the DRE is not recognized. When requesting an MLO license endorsement, the MLO applicant must provide the NMLS with a fresh set of fingerprints. According to the SAFE Act, an MLO may be refused for the following reasons: There is a lifelong ban on MLO licensure if the applicant has ever been convicted of a felony including an act of fraud, dishonesty, breach of trust, or money laundering. An applicant will also be rejected if they have been convicted of a felony during the seven years prior to submitting their application for an endorsement. In any governmental jurisdiction, the applicant has had a loan originator license canceled. The applicant has shown a lack of moral rectitude, moral character, and general fitness that would justify a conclusion that they will conduct themselves in an honest, fair, and effective manner. If there are any worries about their past, it is advised for the applicant to consult with legal counsel before starting the procedure to get an MLO endorsement. If you enjoyed this video about the mortgage loan originator background check requirements in North Carolina, please remember to like, share, subscribe and leave a comment if you have any questions, suggestions, or feedback. We hope to see you here again soon! #mlo #mortgageloanoriginator #loanofficercareer For more information please visit our website at www.skylineschool.net.