NC H293

Extends the timeframe for mortgage loan originator test passage from 3 years to 5 years before application.

Removes requirement for exclusive mortgage brokers to complete a 16-hour residential mortgage lending course, instead requiring only standard prelicensing education.

Modifies continuing education credit rules to allow courses taken prior to the reinstatement period to count toward requirements, removing the restriction to courses taken only in the current year.

Changes mortgage loan originator license suspension period following failure to maintain a valid license from 3 years to 5 years before retesting is required.

Eliminates the automatic 60-day foreclosure suspension when the Commissioner of Banks notifies the court under G.S. 53-243.12(n) and repeals related statutory provisions regarding license surrenders and foreclosure procedures.