New Jersey Statutes 43:16A-16.13. Mortgage loan standards, guidelines
Current as of: 2023 | Check for updates
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Terms Used In New Jersey Statutes 43:16A-16.13
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
6. The board of trustees, with the advice of the New Jersey Housing and Mortgage Finance Agency, shall set mortgage loan standards and guidelines for loans made pursuant to this act, including mortgage loan maturity terms, participation fees, mortgage loan insurance requirements, lender compensation rates, servicing fees, loan-to-value ratios, minimum and maximum mortgage loan amounts and eligibility standards consistent with section 4 of this
L.1992, c.78, s.6; amended 2018, c.55, s.23.