North Carolina bans conflicts of interest on Deeds of Trust

On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section 45-10 now prohibits an attorney who serves as trustee or substitute trustee from representing the noteholder or the borrower while “initiating” a foreclosure proceeding. Before […]

via North Carolina Bans Conflict of Interest on Deed of Trust — Livinglies’s Weblog

That is good news for homeowners in North Carolina. Other non-judicial foreclosure states such as California need to pass similar legislation.