North Carolina General Statutes
Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.
§ 53-244.110 - Mortgage servicer duties.

53-244.110. Mortgage servicer duties.
Any mortgage servicer engaged in the mortgage business as defined by G.S. 53-244.030(11)c., in addition to duties imposed by other statutes or at common law, shall do all of the following:
(1) Safeguard and account for any money handled for the borrower.
(2) Follow reasonable and lawful instructions from the borrower.
(3) Act with reasonable skill, care, and diligence.
(4) File with the Commissioner a complete, current schedule of the ranges of costs and fees it charges borrowers for its servicing-related activities with its application and renewal and with its supplemental filings made from time to time.
(5) File with the Commissioner upon request a report in a form and format acceptable to the Commissioner detailing the servicer's activities in this State, including:
a. The number of mortgage loans the servicer is servicing.
b. The type and characteristics of the loans in this State.
c. The number of serviced loans in default, along with a breakdown of 30-, 60-, and 90-day delinquencies.
d. Information on loss mitigation activities, including details on workout arrangements undertaken.
e. Information on foreclosures commenced in this State.
(6) At the time a servicer accepts assignment of servicing rights for a mortgage loan, the servicer shall disclose to the borrower all of the following:
a. Any notice required by RESPA or by regulations promulgated thereunder.
b. A schedule of the ranges and categories of its costs and fees for its servicing-related activities, which shall comply with North Carolina law and which shall not exceed those reported to the Commissioner.
c. A notice in a form and content acceptable to the Commissioner that the servicer is licensed by the Commissioner and that complaints about the servicer may be submitted to the Commissioner.
d. Any notice required by Article 2A, 4, or 10 of Chapter 45 of the General Statutes.
(7) In the event of a delinquency or other act of default on the part of the borrower, the mortgage servicer shall act in good faith to inform the borrower of the facts concerning the loan and the nature and extent of the delinquency or default and, if the borrower replies, to negotiate with the borrower, subject to the mortgage servicer's duties and obligations under the mortgage servicing contract, if any, to attempt a resolution or workout to the delinquency. (2009-374, s. 2.)