04 NCAC 03M .0204 EXPERIENCE
As used in G.S. 53-244.050(b)(2), a person is considered to have acquired "experience in residential mortgage lending" during any documented period in which:
(1) that person's employment income was principally derived from employment in the mortgage lending, mortgage servicing, or mortgage brokerage industry; and
(2) that person had actual responsibility for job functions in each area of study included in a prelicensing education program.
History Note: Authority G.S. 244-118;
Eff. April 1, 2003;
Amended Eff. May 1, 2010; April 1, 2008.