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Read. Follow. Verify.North Carolina Updates S.A.F.E. Mortgage Licensing Act and Servicer Regulations
Last action · July 1, 2025: Ch. SL 2025-43Sponsors: Stephen Ross and 7 others
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What This Bill Would Do
House Bill 762 modernizes the North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act by updating definitions, revising license renewal and surety bond schedules, establishing prudential standards for mortgage servicers, and setting an effective date of October 1, 2025.
Mortgage brokers, lenders, and servicers operating in North Carolina face revised financial net worth, surety bonding, and reporting obligations enforced by the Commissioner of Banks, with specific penalties and transitional licensing terms.
- The North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act governs the state-level licensing, supervision, and regulation of mortgage brokers, lenders, servicers, and loan originators. context
- The Office of the Commissioner of Banks (OCOB) operates within the North Carolina Department of Commerce to oversee financial institutions and enforce state banking and lending laws. context
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Mortgage lenders
Mortgage lenders must comply with revised licensing, net worth, surety bond tiers, and reporting standards set by the Commissioner of Banks.
Mortgage brokers
Mortgage brokers are subject to updated branch office rules, fee schedules, surety bond requirements based on volume, and stricter conduct duties.
Mortgage servicers
Covered mortgage servicers must implement enhanced capital, liquidity, corporate governance, risk management, and audit programs under Part 2.
Mortgage loan originators
Loan originators must meet updated prelicensing education, testing, fingerprinting, and continuing education requirements and maintain active employment with a licensed entity.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the penalty for engaging in the mortgage business without a license under this act?
What are the minimum surety bond requirements for mortgage lenders?
When does this legislation take effect?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently passed both. The next step in the legislative lifecycle is Law.
Procedural history
32 actions- Jun 24, 2025HouseOrdered Enrolled
- Jun 24, 2025HouseConcurred In S Com Sub
- Jun 23, 2025HousePlaced On Cal For 06/24/2025
- Jun 19, 2025HouseCal Pursuant 36(b)
- Jun 19, 2025HouseSpecial Message Received For Concurrence in S Com Sub
- Jun 19, 2025SenateSpecial Message Sent To House
Show 26 earlier actions
- Jun 19, 2025SenatePassed 3rd Reading
- Jun 19, 2025SenatePassed 2nd Reading
- Jun 18, 2025SenateReptd Fav
- Jun 17, 2025SenateRe-ref Com On Rules and Operations of the Senate
- Jun 17, 2025SenateReptd Fav
- Jun 10, 2025SenateRe-ref Com On Finance
- Jun 10, 2025SenateCom Substitute Adopted
- Jun 10, 2025SenateReptd Fav Com Substitute
- Jun 10, 2025SenateRe-ref to Commerce and Insurance. If fav, re-ref to Finance. If fav, re-ref to Rules and Operations of the Senate
- Jun 10, 2025SenateWithdrawn From Com
- May 1, 2025SenateRef To Com On Rules and Operations of the Senate
- May 1, 2025SenatePassed 1st Reading
- May 1, 2025SenateRegular Message Received From House
- May 1, 2025HouseRegular Message Sent To Senate
- Apr 30, 2025HousePassed 3rd Reading
- Apr 30, 2025HousePassed 2nd Reading
- Apr 29, 2025HousePlaced On Cal For 04/30/2025
- Apr 29, 2025HouseCal Pursuant Rule 36(b)
- Apr 29, 2025HouseReptd Fav
- Apr 17, 2025HouseRe-ref Com On Rules, Calendar, and Operations of the House
- Apr 17, 2025HouseWithdrawn From Com
- Apr 15, 2025HouseRe-ref Com On Finance
- Apr 15, 2025HouseReptd Fav Com Substitute
- Apr 7, 2025HouseRef to the Com on Commerce and Economic Development, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House
- Apr 7, 2025HousePassed 1st Reading
- Apr 2, 2025HouseIntroducedFiled
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Introduction of Comprehensive Servicer Prudential Standards
Part 2 establishes an extensive new regulatory framework for covered mortgage servicers, incorporating specific capital, liquidity, and governance requirements modeled after federal enterprise standards.
Connected Entities
Sources
www.ncleg.gov
Analysis Score
0–100- Significance85How much this matters to a regular citizen
- Controversy15Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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