HB 2423 Regulate Mortgage Servicers
Full Session Law (pdf) Bill Summary (pdf) This legislation requires mortgage loan servicers doing business in North Carolina to be licensed and imposes new standards on their loan collection activities, providing more protection for North Carolina homeowners. This bill adds mortgage servicing regulation to the regulation of mortgage bankers and mortgage brokers. New duties for mortgage servicers include: Safeguarding and accounting for any money handled for the homeowner Following instructions from the homeowner Making proper disclosures to the homeowner, including: Schedule of servicing fees...