Bill Summary for H 762 (2025-2026)
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Summary date:
Apr 15 2025
Bill Information:
View NCGA Bill Details(link is external) | 2025-2026 Session |
AN ACT TO MODERNIZE THE NORTH CAROLINA SECURE AND FAIR ENFORCEMENT (S.A.F.E) MORTGAGE LICENSING ACT AND TO MODIFY THE MAXIMUM PERMISSIBLE FEES OR DISCOUNTS THAT CERTAIN LENDERS MAY CHARGE ON SECOND OR JUNIOR LIEN REAL ESTATE LOANS TO ALIGN MORE CLOSELY WITH FEDERAL QUALIFIED MORTGAGE STANDARDS.Intro. by Ross, Arp, N. Jackson, Setzer.
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Bill summary
House committee substitute to the 1st edition makes the following changes.
Makes a technical change in GS 53-244.103.
Amends proposed GS 53-244.143 to require covered institutions, instead of the Commissioner, to take the listed actions within 15 days of discovering that they no longer meet the statute's requirements, or when specified actions happen with the FHFA waiver.