LSNJLAW SM

Find Free NJ Legal Information

Welcome to the LSNJLAWSM website, provided by Legal Services of New Jersey (LSNJ). LSNJ is a 501(c)(3) nonprofit offering free civil legal assistance to low-income people in New Jersey. Find legal information by clicking on a legal topic or typing a few words into the search box.

LAW Home > Legal Topics > Housing > Home Ownership > Foreclosure

Licensing Requirements for Residential Mortgage Lending (N.J.S.A. 2A:50-56 and N.J.S.A. 17:11C-1)

 

In 2019, Governor Phil Murphy signed nine new laws that affect New Jersey foreclosures. The laws aim to help homeowners and reduce foreclosures. This article describes the law that relates to licensing requirements for residential mortgage lending.

Residential mortgage lenders are usually the companies that provide the actual money for a mortgage. Many homeowners do not communicate with the residential mortgage lender after the original mortgage loan closing.

Under the new law, many out-of-state lenders now must be licensed with NJ DOBI. There are other duties, also. 

For more information about other important sections of the laws, click on one of the topics below.

The “citations” (letters and numbers next to each section title) are codes used to find laws online or in a law library. ​​​