N.J. Admin. Code § 5:80-14.1

Current through Register Vol. 56, No. 23, December 2, 2024

Section 5:80-14.1 - Commitment applications

(a) Upon request, the Agency shall make available to all mortgage sellers a single family home improvement loan application form. Such form shall be provided at least 14 days in advance of the date all such applications must be submitted to the Agency. The single family home improvement loan application shall contain, among other things:

1. Provision for the mortgage seller to state the maximum principal amount of single family home improvement loans which the mortgage seller offers to the Agency;

2. The date by which the commitment application must be submitted to the Agency in order to be considered for an allocation of funds and the date by which program commitments will be accepted by the Agency;

3. A form of the proposed note purchase agreement to be executed by the mortgage seller; and

4. Provision for the mortgage seller to furnish information regarding its residential loan origination activities during a time period to be prescribed by the Agency.

N.J. Admin. Code § 5:80-14.1

Amended by R.2000 d.132, effective 3/20/2000.
See: 32 New Jersey Register 191(a), 32 New Jersey Register 1065(a).
In (a), inserted "family" following "single" in 1.