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.