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Tag Archives: North Carolina Commissioner of Banks

Behind the $25B Settlement: Joe Smith

Parties to the landmark mortgage servicing settlement appointed one man to oversee $25 billion in compliance. In an interview with DS News, Joseph A. Smith, onetime banking commissioner for North Carolina and ex-nominee to head the Federal Housing Finance Agency, lays out the role he envisions playing as he monitors funds for homeowners, states, and the federal government. The settlement monitor speaks with an understated tone about his stewardship of the historic settlement, which 49 state attorneys general and federal officials completed in February.

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Administration’s Search for FHFA Head Begins Again

President Obama's nominee to take the role of Federal Housing Finance Agency (FHFA) director and lead the government's efforts to reform the housing finance system has pulled his name out of the running. Joseph A. Smith, Jr. has served as North Carolina's banking commissioner for the past eight years, and he was the White House's top pick to head the agency charged with overseeing Fannie Mae and Freddie Mac.

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Lender Agrees to Refund $4.7 Million to North Carolina Homeowners

WR Starkey Mortgage has agreed to pay $4.7 million to North Carolina homeowners exploited by a scheme related to the sale and financing of overpriced manufactured and modular homes sold by Phoenix Housing Group, Inc. In conjunction with the attorney general, the North Carolina Office of the Commissioner of Banks announced that the company will pay $26,000 to each of the 171 victimized homeowners.

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