Tag Archive: "New Jersey"
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New Jersey Extends the Law Against Discrimination Protections over Service in The Armed Forces
Effective immediately, New Jersey has amended the Law Against Discrimination (LAD). These amendments extend protections over liability for service in the Armed Forces of the United States in various forms.
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New Jersey Amends the Fair Foreclosure Act: Servicer Impacted
Effective September 21, 2017, New Jersey amended its Fair Foreclosure Act by defining servicers and their duties during a short sale.
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New Jersey Adjusts Definition of “High-Cost Home Loan”
New Jersey Department of Banking and Insurance adjusts definition of “high-cost home loan” under the New Jersey Home Ownership Security Act of 2002.
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New Jersey Enacts Escrow Agent and Foreclosure Provisions
By Linaldo Donovan New Jersey Enacts Provisions Regarding Escrow Agent Evaluation Services The state of New Jersey enacted provisions by making it an unlawful practice under its Consumer Fraud Act for an escrow agent evaluation service to prepare a report for use by a mortgage lender in evaluating the capacity of an escrow agent to […]
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New Jersey Re-adopts and Amends Predatory Lending Regulation
by: Margaret WrightThe Predatory Lending regulations implemented under New Jersey Home Ownership Security Act (“the Act”) have been re-adopted and certain definitions have been technically amended to be consistent with new January 2014 federal Home Ownership and Equity Protection Act (“HOEPA”) amendments. The Effective Re-adoption Date is February 12, 2014 and the Effective Amendment Date […]
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New Jersey Enacts Provisions Regarding Foreclosure Consultants
by: Matthew DaileyThe New Jersey Department of Banking and Insurance enacted provisions to the New Jersey Residential Mortgage Lending Act regarding foreclosure consultants. These provisions were proposed on May 6, 2013 and are effective as of January 6, 2014. The state of New Jersey has addressed foreclosure issues by proposing new rules creating the requirement […]
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New Jersey Issues High Cost Loan and Mortgage License Renewal Bulletins
by: Margaret WrightThe New Jersey Department of Banking recently issued two Bulletins concerning high cost home loans and Residential Mortgage Act 2014 licensing information. High Cost Home Loan Definition Bulletin No. 13-20 addresses the NJ Home Ownership Security Act of 2002’s required annual review and maximum principal amount adjustment for determination of a high cost […]