National Mortgage Settlement

There has been a lot of movement from big banks in meeting their obligations in the National Mortgage Settlement.  A report out last week shows the five national banks in the settlement administered $350-million in total relief to North Carolinians in the last year.  That affects about 7,600 borrowers.   Settlement Monitor Joseph Smith runs down the national numbers in this video statement. 

The fight against mortgage fraud and other financial crimes just got a little easier in North Carolina – thanks to a new Financial Crimes Initiative.

Ben David is the District Attorney for New Hanover and Pender counties and heads the state conference of D-As. He says the rise in mortgage fraud and other scams is what helped North Carolina get funding for a Financial Crimes Initiative.

A former North Carolina governor is one of five people selected to serve on the board overseeing the national mortgage settlement.

Leoneda Inge: James Holshouser is joined by Keith Pigues (pig-gees), Dean of the School of Business at North Carolina Central University and Bonnie Hancock, with the N-C State Poole College of Management. Joseph Smith is national mortgage settlement monitor and former North Carolina Commissioner of Banks. He says the oversight office is like a small company.