Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
N.C. mortgage services bill on way to governor
GREENSBORO, N.C. (7/14/08)--A bill that would require mortgage servicers to be licensed in North Carolina was approved last week and is on its way to the governor’s desk. “The changes will have minimal impact on credit unions,” said Dan Schline, senior vice president, North Carolina Credit Union League association services. “But there were a few items added to the list of prohibited activities for lenders, including credit unions, making mortgage loans in North Carolina.” The provisions of the bill applicable to credit unions will be effective Jan. 1 (Weekly Update July 11). The bill aims to crack down on abuse by mortgage servicers by providing additional regulatory authority to the state’s banking commissioner. Prohibited activities include:
* Failing to provide notice to the borrower of force placed insurance; * Placing of insurance that exceeds the known value of the property; * Failing to refund fees for unearned premiums to borrowers; * Failing to provide borrow notice and itemized statement 45 before initiating foreclosure proceedings; and * Failing to make payments from escrow accounts in a timely manner.
Other Resources

RSS





print
News Now LiveWire
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting. http://t.co/yOuqdXHlxj
3 hours ago
Registration is now open for online viewing of @TheNCUA's March 19 board meeting. https://t.co/mMZoXSFjMe
3 hours ago
.@CFPB Director Richard Cordray's testimony that he will deliver before the #HFSC this afternoon. http://t.co/NA1aEOPAeh
5 hours ago
Consumer spending flatlines, savings ramp up #Market #NewsNow http://t.co/94kPuBpMRK
5 hours ago
.@Cornerstone_CUL in 2014: $9K in savings per member #NewsNow #CUSystem http://t.co/7LnsV876cs
7 hours ago