Bill Summaries: H518 SAFE ACT CHANGES.

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  • Summary date: Mar 28 2017 - View Summary

    Amends GS 53-244.040, pertaining to license and registration requirements under the Secure and Fair Enforcement Mortgage Licensing Act, to amend the second exemption set out in subsection (d). Exempts from the provisions of Article 19B, except the prohibited act provisions of GS 53-244.111, any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of a family member of the individual that is related within the third degree of kinship, including relation by adoption, when making the family member a residential mortgage loan (currently, the exemption refers to an immediate family member of the individual).