Easley Signs 3 Foreclosure Bills

RALEIGH -- North Carolina's governor has signed three bills to reduce the number of home foreclosure filings.

Gov. Mike Easley signed the bills Monday, including one that requires lenders to provide 45 days notice to homeowners and the state's bank commissioner before a foreclosure is filed.

Another bill eliminates rate spread premiums, also known as yield premiums, that go to mortgage brokers.

Critics say the payments give brokers the incentive to charge higher fees with no benefit to the consumer.

Supporters say it's a legitimate way for borrowers to spread out mortgage broker fees over the life of a loan.

The third bill signed by Easley requires individuals and companies serving loans in North Carolina to register and make reports to the bank commissioner.