On August 18, North Carolina’s governor signed three housing bills into law in conjunction with his Emergency Foreclosure Reduction Program. Subprime legislation HB 2623 mandates at least 45 days’notice be given to homeowners and the North Carolina Banking Commissioner prior to foreclosure, and allows the Banking Commissioner to impose a 30-day delay on foreclosure proceedings in certain circumstances. The governor also signed HB 2188, effective October 1, which prohibits lenders from offering and brokers from receiving compensation based on loan interest rates, and HB 2463, effective January 1, 2009, which requires all loan servicers in North Carolina to register and report to the Banking Commissioner.