(a) The application shall be in writing, attested by the applicant, and filed pursuant to Rule .0101(b) of this Subchapter, and shall include the following:
- (1) a business plan that includes a description of the applicant's reverse mortgage business operations;
- (2) the addresses where the applicant intends to engage in business as a reverse mortgage lender, including branch offices and the name of each branch manager;
- (3) a description of the business experience and current business activities of the applicant, its partners, directors, principal officers and controlling persons; and
- (4) three business references, including one bank reference.
- (b) In addition to the documents and information described in Paragraph (a) of this Rule, the Commissioner may require additional information as necessary to make the findings required by G.S 53-258.
- (c) Incomplete application files may be closed and deemed withdrawn when the applicant has not submitted information requested by the Commissioner within 30 days of the request.
History Note: Authority G.S. 53-258; 53-259;
Eff. January 1, 1995;
Readopted Eff. August 1, 2018.