27 May 2007 06:07 am
Oversight ahead for mortgage industry?
| Four bills aiming to curb foreclosures in North Carolina have cleared the N.C. House, and now await action by the state Senate. The bills would significantly increase state oversight of the mortgage industry for the first time in more than five years. During that time, the number of foreclosures has climbed sharply. More state residents likely will lose homes to foreclosure this year than in any previous year. The problem is worst in Mecklenburg County, where almost 4 in 100 homeowners likely will face foreclosure. The current crop of legislation stems from the work last year of a special House committee appointed in response to the Observer’s reporting about rising foreclosures in the Charlotte area. |
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