Reverse Mortgage Authorization

Each of the following lenders shall be considered authorized to engage in the business of making reverse mortgage loans without being required to apply pursuant to subsection (b) of this section and may represent to the public that it is so authorized: The North Carolina Housing Finance Agency. A bank, savings institution, or credit union formed under the laws of this or any other state or of the United States. A wholly owned subsidiary of an entity described in subdivision of this subsection.