NOT SO FAST: The N.C. Office of the Commissioner of Banks has proposed new regulations that would stop foreclosure once a homeowner asks for a loan modification. The rule would give homeowners more time to try to keep their homes. (N&O)

TO THE RIGHT: Independents who swept Barack Obama to a historic 2008 victory broke big for Republicans on Tuesday as the GOP wrested political control from Democrats in Virginia and New Jersey, a troubling sign for the president and his party heading into an important midterm election year. (AP)

TAX TALKS: Lawmakers met for the first of a series of meetings that will focus on proposals to overhaul the state's tax system. (AP)