Adds to GS 24-1.1A(c) a definition of discount points that includes fees paid by or on behalf of a borrower to certain federal agencies and entities levied by such agencies or entities to compensate for increased risks and costs relating to the mortgage loan. Adds to GS 24-1.1E(a)(5) to define “points and fees” to exclude certain fees paid by or on behalf of a borrower to certain federal agencies. Amends GS 24-1.1E(a)(6) to exclude from the definition of “discount points” as used in that sub-subdivision the fees that the act adds to the definition of “discount points” in GS 24-1.1A(c). Amends GS 53-244.101 to prohibit the Insurance Commissioner from refusing to renew a loan originator’s license based on the loan originator’s credit score at the time of the renewal. Amends GS 53-244.103(b) to reduce the minimum surety bonds required of mortgage brokers generally from $75,000 to $50,000, from $125,000 to $75,000 for brokers with annual business between $10 million and $50 million, and from $250,000 to $100,000 for brokers with annual business greater than $50 million. Reduces minimum surety bonds required of mortgage lenders and servicers generally from $150,000 to $75,000, from $250,000 to $125,000 for lenders and servicers with annual business of between $10 million and $50 million, and from $500,000 to $200,000 for lenders and services with annual business of more than $50 million. Amends GS 53-244.115(b) to require the Insurance Commissioner to notify parties subject to a complaint examination when the examination is complete and to initiate any disciplinary actions within 12 months of the date of the notice. Effective October 1, 2011.