Two men with Rocky Mount ties have taken leadership roles in the $25 billion mortgage deal.

Both are adequately suited to address the foreclosure abuses big banks dabbled in after the bubble burst.

Joseph Smith Jr. was chosen by banks and attorneys general to oversee the settlement. Smith is uniquely qualified because of his work in the banking industry – which included a decade at Centura Bank when it was based here – and his efforts protecting consumers when he was the state’s banking commissioner.

Rocky Mount native N.C. Attorney General Roy Cooper, who was a key negotiator in the settlement, said the deal he helped strike wasn’t a cure-all, but it would help curb abuses.

Having two state leaders play prominent roles in shaping and overseeing the mortgage deal is important for both North Carolina homeowners and the banks with big footprints here.

The settlement will pay for housing counselors and legal aid to help hurting homeowners in the state. It aims to do a lot of big things that will benefit states, folks who were wrongly foreclosed on and those whose homes are underwater.

The challenges in overseeing this deal can best be met by someone who can understand the issues from both a bank perspective and a consumer perspective. That’s what makes Smith the best man for the job. We laud his selection and hope he can turn around an industry that has a lot to atone for.