Finance
The NC Mortgage Lending Act is administered by which state agency?
ANC Real Estate Commission
BNC Department of Insurance
CNC Office of the Commissioner of Banks✓ Correct
DNC Department of Revenue
Explanation
The NC Mortgage Lending Act is administered by the NC Office of the Commissioner of Banks, which licenses and regulates mortgage lenders and mortgage brokers in NC.
Related North Carolina Finance Questions
- A NC homebuyer with limited cash uses an 'FHA 203(k)' loan to purchase a fixer-upper. This loan product allows buyers to:
- A borrower in North Carolina has a gross monthly income of $5,500 and monthly debts of $800. What is the maximum monthly housing payment allowed under a 28% front-end DTI ratio?
- The secondary mortgage market in real estate primarily involves:
- An 'adjustable-rate mortgage' (ARM) in NC features:
- Under RESPA, a kickback or referral fee paid between settlement service providers is:
- Which statement about the Closing Disclosure is TRUE?
- What is the primary difference between Fannie Mae and Freddie Mac?
- The 'Dodd-Frank Act' introduced the concept of a 'Qualified Mortgage' (QM). A key feature of a QM loan is:
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →