Surety Bond Blog » mortgage servicers http://www.jwsuretybonds.com/blog General to specific surety bond information, as well as current events within the industry. Sun, 21 Mar 2010 15:05:25 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 North Carolina Mortgage Servicers Bond http://www.jwsuretybonds.com/blog/north-carolina-mortgage-servicers-bond http://www.jwsuretybonds.com/blog/north-carolina-mortgage-servicers-bond#comments Mon, 02 Nov 2009 17:37:58 +0000 Eric Weisbrot http://www.jwsuretybonds.com/blog/?p=959

North CarolinaHB 2463, enacted on 08/17/2008, is a new North Carolina state law. HB 2463 manages mortgage servicers and requires them to follow the same licensing, bond and qualification provisions as mortgage lenders. The existing law requires a surety bond of $150,000. Alternatives to the bond are cash or securities in the same amount; as well as is a financial statement representing a net worth of $250,000. Existing law already authorizes and gives precedence to direct customer claims. HB 2463 became active on January 1, 2009.

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