Tag Archive: "North Carolina"
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North Carolina Amends Late Payment Charge Limitations
The North Carolina General Assembly has issued Senate Bill 162 to revise Section 24-10.1 Late Fees.
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North Carolina Amends Provisions Regarding Real Property and Notice of Foreclosure Sale Cancellations
North Carolina Amends Provisions Regarding Real Property The state of North Carolina has recently enacted House Bill 852, which makes changes to various real property statutes as recommended by the Real Property Section of the North Carolina Bar Association, and which regulates the solicitation fees for copies of documents recorded with the registers of deeds […]
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North Carolina Enacts Prohibition on Attorneys Serving as Trustees from Representing Noteholders or Borrowers while Initiating a Foreclosure Proceeding
North Carolina recently enacted House Bill 770, effective immediately. The Bill amends North Carolina General Statues ยง 45-10, Substitution of trustees in mortgages and deeds of trust.
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North Carolina Enacts Uniform Power of Attorney Act
North Carolina recently enacted the Uniform Power of Attorney Act (the Act), effective January 1, 2018. The Act amends the North Carolina General Statues by adding Chapter 32C, cited as the North Carolina Uniform Power of Attorney Act.
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North Carolina Clarifies Process for Correcting Nonmaterial and Descriptive Errors in Recorded Instruments of Title
North Carolina House Bill 584 serves to clarify the process for correcting nonmaterial errors in recorded instruments of title, creates a curative procedure for obvious description errors in documents of title, and creates a seven-year curative provision for certain defects in recorded instruments of title. The act is effective August 31, 2018, and applies to curative affidavits filed on or after that date.
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North Carolina Modifies Fee Notice Requirements for Loan Servicers
The General Assembly of North Carolina has enacted Senate Law 2017-10, which streamlines mortgage notice requirements, effective immediately.
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North Carolina Updates Filing Fees
Effective October 1st, 2016 general assembly of North Carolina session 2015 session law 2016-86 senate bill 19 S19-v-5 updates fees for filing a deed of trust so that they are compliant with the Truth in Lending Act.
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North Carolina Enacts Revised Uniform Fiduciary Access to Digital Assets Act
Effective June 30th, 2016 North Carolina enacted the Revised Uniform Fiduciary Access to Digital Assess Act. Additionally, North Carolina has adopted a new template for its Power of Attorney sample. Applicability The Act delineates the following individuals as those whom it applies to. It is important to note that the Act applies to the following […]
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North Carolina Enacts Provisions Regarding Registration System for Processors or Underwriters not Engaged in the Mortgage Business
By Brian CastineEffective as of November 1, 2015 the state of North Carolina has updated the registration system for individuals that are solely involved in processing or underwriting of residential mortgage loans. These provisions explicitly exclude those involved in the mortgage business. These updates include license issuance and renewal, applications fees, bond requirements, recordkeeping, and […]
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North Carolina Amends its Anti-Predatory Lending Law – House Bill 692
by: Louis DanastorgRecently, North Carolina amended its anti-predatory lending laws to make them no more restrictive than federal lending regulations, having been concerned anti-predatory lending laws in North Carolina had become burdensome to instate lenders. First, the General Assembly revised its consideration of the points and fees, mortgage finance charges, assessed to a borrower as […]