Information for Mortgage Servicers

Mortgage servicers of subprime loans in North Carolina are required to provide a 45-day pre-foreclosure notice to homeowners as a result of the Emergency Program to Reduce Foreclosures. In addition, servicers are also required to file a pre-foreclosure notice in a State database. Servicers must set up an account with the database to file the pre-foreclosure notices and to review the status of pre-foreclosure notices filed.

NCCOB uses the database to reach out directly to homeowners facing potential foreclosure to encourage them to take action to avoid foreclosure. NCCOB has developed a network of counselors to provide foreclosure prevention counseling and legal service providers to assist NCCOB in reviewing loans submitted in this program.

Submit a Lender/Servicer Pre-Foreclosure Notice Filing (State Home Foreclosure Prevention Project Database)

FAQs

04 NCAC 03M .0702 REQUIREMENTS FOR MORTGAGE SERVICERS TO COMMUNICATE EFFECTIVELY

04 NCAC 03M .0703 CESSATION OF FORECLOSURE ACTIVITY DURING PENDENCY OF LOSS

For more information about 04 NCAC 03M .0702 and .0703 please refer to the following NCCOB webpage.

Servicer Presentation

Servicer Information Request Form

Click here to obtain a copy of the HMDA Rate Trigger Table and 30 Year Conventional Rate Chart for loans covered by the Emergency Foreclosure Reduction Program under S.L. 2008-226. Click here for HMDA Rate Trigger Table Instructions.