Reverse-mortgage authorization

North Carolina's authorization provision calls for an application to the Commissioner with the applicant's name, business addresses and financial-solvency and capitalization information. Keep that licensing information consistent with the bond application.

Keep authority and security separate

The authorization provision describes a nontransferable notice of authority, displayed in offices originating reverse mortgages. It also describes institutions treated as authorized without a formal application.

Those authorization rules do not determine the conditions of a particular bond. Use the exact recipient, amount and form in your bond request.

Apply, then complete the requested delivery

Purchase Now opens Propeller in a new tab for the bond application. The Southern Agency's link does not submit the reverse-mortgage authorization application.

After issuance, review the applicant name and required execution, then follow the requesting party's delivery instructions. A receipt alone is not an issued or filed bond.