Information for Legal Screening Team

Based on NCCOB’s experience, subprime loans originated between 2005 and 2007 have had a high rate of non-compliance with North Carolina law. In some cases, the presence of violation of law may increase opportunities for the homeowner to avoid foreclosure. Thus, NCCOB is undertaking to review subprime loans to determine if serious violations of law exist in the underlying loan documents. To assist NCCOB’s review, a network of law school students and pro bono attorneys will work together to review loan documents to spot potential violations of law. When potential violations are found, NCCOB staff will conduct an additional review and take follow-up action to prevent foreclosures on illegal loans. Legal Aid of North Carolina, the N.C. Bar Association, and other legal services organizations are also working to provide representation to homeowners facing foreclosure.

• State Home Foreclosure Prevention Project Database
• Volunteer Confidentiality Agreement
• Volunteer Login User Guide
• RFR Training – Becky Borrower Document Examples
• RFR Training – Becky Borrower Red Flag Review Example

See list of participating organizations below:

• N.C. Bar Association
• Legal Aid of North Carolina
• N.C. Justice Center
• UNC School of Law
• Duke University School of Law
• NCCU School of Law
• Campbell Law School
• Charlotte School of Law

Relevant Legislation:

• H. 2623
• H. 2188
• H. 2463
• N.C. Mortgage Lending Act
• N.C. Administrative Code, Title 04, Chapter 03