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has some of the strongest anti-predatory lending laws in the country. Why didn laws already on the books stop recent lending abuses?

April 26, 2017abuses anti-predatory Books country Laws lending recent

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has some of the strongest anti-predatory lending laws in the country. Why didn laws already on the books stop recent lending abuses?

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It’s true that NC has been a leader in protecting homeowners against predatory lending, passing significant protections in 1999, 2001 and 2007. Most of these previous laws have focused on lenders and brokers, not servicers . This law focuses on protecting borrowers from abusive loan servicing and making the foreclosure process fairer by improving the information that struggling homeowners receive. It also reverses two recent NC Supreme Court decisions that made it harder for homeowners to sue for illegal practices.