North Carolina HB 2188 has become law. It is effective October 1, 2008.

Included in this legislation are:

• Requirement that any fee incurred by a servicer be clearly and conspicuosly explained to the mortgagor within 30 days after the fee is assessed
• Clarification that the servicer is not required to send a statement to the mortgagor under certain circumstances 
• Provision that a servicer is not required to provide notification to the mortgagor if a partial payment is accepted and accredited in accordance witha written statement
• Additions to the list of prohibited acts under the Mortgage Lending Act.

To view the bill in its entirety, please click here.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 500 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.