Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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The House unanimously passed legislation that the Senate approved Monday requiring mortgage servicers to be licensed in North Carolina.

By approving the legislation, North Carolina becomes only the ninth state to regulate mortgage servicers and remains at the forefront of efforts to repair damage to the housing industry, one of the nation's most important.

The measure, which still needs Gov. Mike Easley's signature to become law, aims to protect consumers by preventing abuses that contributed to the housing market meltdown and undermined confidence in the mortgage system.

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http://www.newsobserver.com/news/story/1135418.html
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