Comments on: North Carolina Sets Rules for Reverse Mortgage Lenders http://www.bestreversemortgage.com/reverse-mortgage/north-carolina-sets-rules-for-reverse-mortgage-lenders/ The Unofficial Guide to Reverse Mortgages Thu, 20 Nov 2008 10:10:05 +0000 http://wordpress.org/?v=2.6 By: Peter G. Miller http://www.bestreversemortgage.com/reverse-mortgage/north-carolina-sets-rules-for-reverse-mortgage-lenders/#comment-351 Peter G. Miller Wed, 17 Oct 2007 16:16:53 +0000 http://www.bestreversemortgage.com/reverse-mortgage/north-carolina-sets-rules-for-reverse-mortgage-lenders/#comment-351 Karl -- Thanks for your post. Actually the reverse is true. It is the norm to have both state regulation and federal regulation. Banks, thrifts and credit unions with national charters are regulated by the federal government. Under the concept of "preemption," federal regulation trumps conflicting or contrary state rules. Banks, thrifts and credit unions chartered by a state would have to conform with state rules. Karl –

Thanks for your post.

Actually the reverse is true. It is the norm to have both state regulation and federal regulation.

Banks, thrifts and credit unions with national charters are regulated by the federal government. Under the concept of “preemption,” federal regulation trumps conflicting or contrary state rules. Banks, thrifts and credit unions chartered by a state would have to conform with state rules.

]]> By: karl leblanc http://www.bestreversemortgage.com/reverse-mortgage/north-carolina-sets-rules-for-reverse-mortgage-lenders/#comment-350 karl leblanc Wed, 17 Oct 2007 15:25:01 +0000 http://www.bestreversemortgage.com/reverse-mortgage/north-carolina-sets-rules-for-reverse-mortgage-lenders/#comment-350 It is always unusual when a state requires every lender except banks,credit unions, savings institutions to be regualted... Why not regulate every lender ? It is always unusual when a state requires every lender except banks,credit unions, savings institutions to be regualted… Why not regulate every lender ?

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