reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17:16F-33 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-33 - Expiration of initial license; renewals; fees.

17:16F-33 Expiration of initial license; renewals; fees.  7. a. An initial mortgage servicer license shall expire at the close of business on December 31 of the year in which it is approved, except that any license that is approved on or after November 1 shall expire at the close of business on December 31 of the year following the year in which it is approved. An application for renewal of a license shall be filed between November 1 and December 31 of the year in which the license expires and a renewal license shall expire at the close of business on December 31 of the third year after the year in which it was approved. Each applicant for an initial license or renewal of a license as a mortgage servicer shall pay to the department any required fees or charges and a license fee of $1,000. Each applicant for a renewal license shall pay to the department any required fees or charges and a license fee of $3,000. b. All fees paid pursuant to this section, including fees paid in connection with an application that is denied or withdrawn prior to the issuance of the license, shall be nonrefundable. A fee paid pursuant to this section shall not be prorated if the license is surrendered, revoked or suspended prior to the expiration of the period for which it was approved. L.2019, c.65, s.7.
NJ Rev Stat § 17:16F-35 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-35 - Exemptions to maintain adequate records.

17:16F-35 Exemptions to maintain adequate records.  9. a. A mortgage servicer licensee and person exempt from licensure pursuant to paragraph (4) of subsection b. of section 3 of this act shall maintain adequate records of each residential mortgage loan transaction at the office named in the mortgage servicer or residential mortgage lender license, or, if requested by the commissioner, shall make the records available at the office or send the records to the commissioner by registered or certified mail, return receipt requested, or by any express delivery carrier that provides a dated delivery receipt, not later than five business days after requested by the commissioner to do so. Upon request, the commissioner may grant a licensee additional time to make the records available or send them to the commissioner. The records shall provide the following information:  (1) a loan history for residential mortgage loans upon which payments are received or made by the mortgage servicer, itemizing the amount and date of each payment and the unpaid balance at all times;  (2) the original or an exact copy of the note, residential mortgage or other evidence of indebtedness;  (3) the name and address of the residential mortgage lender, and mortgage broker, if any, involved in the residential mortgage loan transaction; (4) copies of any disclosures or notifications provided to the mortgagor required by State or federal law;  (5) a copy of any bankruptcy plan approved in a proceeding filed by the mortgagor or a co-owner of the property subject to the residential mortgage loan; (6) a communications log that documents all verbal communications with the mortgagor or the mortgagor's representative; and  (7) a copy of all notices sent to the mortgagor related to any foreclosure proceeding filed against the encumbered property. b. Every mortgage servicer licensee and person exempt from licensure pursuant to paragraph (4) of subsection b. of section 3 of this act shall retain the records of each residential mortgage loan serviced for not less than two years following the final payment on the residential mortgage loan, or the assignment of the residential mortgage loan, whichever occurs first, or a longer period as may be required by any other provision of law. Every mortgage servicer licensee and person exempt from licensure pursuant to paragraph (4) of subsection b. of section 3 of this act shall keep and use in its business books, accounts and records that will enable the commissioner to determine whether the mortgage servicer is complying with the provisions of this act. L.2019, c.65, s.9.
NJ Rev Stat § 17:16F-36 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-36 - Disclosures to mortgagor.

17:16F-36 Disclosures to mortgagor.  10. Upon assignment of servicing rights on a residential mortgage loan, the mortgage servicer shall disclose to the mortgagor:  a. any notice required by the "Real Estate Settlement Procedures Act of 1974" (12 U.S.C. s.2601 et seq.), and the regulations promulgated thereunder, and within the time periods prescribed therein; and  b. a schedule of the ranges and categories of its costs and fees for its servicing-related activities, which shall comply with State and federal law and, if the disclosure is made by a mortgage servicer licensee, shall not exceed those reported to the commissioner in accordance with section 5 of this act. L.2019, c.65, s.10.
NJ Rev Stat § 17:16F-37 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-37 - Compliance with federal laws, regulations.

17:16F-37 Compliance with federal laws, regulations.  11. a. A mortgage servicer shall comply with all applicable federal laws and regulations relating to mortgage loan servicing, including, but not limited to: (1) the "Real Estate Settlement Procedures Act of 1974" (12 U.S.C. s.2601 et seq.); and (2) the "Truth-in-Lending Act" (15 U.S.C. s.1601 et seq.). b. In addition to any other remedies provided by law, a violation of any federal law or regulation shall be deemed a violation of this section and a basis upon which the commissioner may take enforcement action pursuant to section 14 of this act. L.2019, c.65, s.11.
NJ Rev Stat § 17:16F-38 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-38 - Schedule of fees.

17:16F-38 Schedule of fees.  12. a. A mortgage servicer shall maintain and keep current a schedule of fees that it charges mortgagors for its servicing-related activities. The schedule shall identify each fee, provide a plain English explanation of the fee and state the amount of the fee or range of amounts or, if there is no standard fee, how the fee is calculated or determined. A mortgage servicer shall make its schedule available to the mortgagor or the mortgagor's authorized representative upon request. b. A mortgage servicer shall not impose any late fee or delinquency charge when the only delinquency is attributable to late fees or delinquency charges assessed on an earlier payment, and the payment is otherwise a full payment for the applicable period and is paid on its due date or within any applicable grace period. Late charges shall not be:  (1) based on an amount greater than the past due amount;  (2) collected from the escrow account or from escrow surplus without the approval of the mortgagor; or  (3) deducted from any regular payment. L.2019, c.65, s.12.
NJ Rev Stat § 17:16F-41 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-41 - Suspension, revocation, failure to renew license.

17:16F-41 Suspension, revocation, failure to renew license.  15. a. The commissioner may suspend, revoke or refuse to renew any mortgage servicer license or take any other action for any reason which would be sufficient grounds for the commissioner to deny an application for the license under section 4 of this act, or if the commissioner finds that the licensee, any control person of the licensee, the qualified individual or any branch manager with supervisory authority, trustee, employee or agent of the licensee has done any of the following:  (1) made any material misstatement in the application;  (2) committed any fraud or misrepresentation or misappropriated funds;  (3) become insolvent; (4) violated any of the provisions of this act or of any regulations adopted pursuant thereto, or any other law or regulation applicable to the conduct of its business; or  (5) failed to perform any agreement with a mortgagee or a mortgagor. b. Whenever it appears to the commissioner that any person has violated, is violating, or is about to violate any of the provisions of this act or of any regulations adopted pursuant thereto, or any licensee has failed to perform any agreement with a mortgagee or mortgagor, committed any fraud, made any misrepresentation or misappropriated funds, the commissioner may: (1) issue an order directing a person or licensee to cease and desist from engaging in any act or practice that is in violation of this act;  (2) issue an order directing a person or licensee to perform corrective actions; and (3) bring an action in any court of competent jurisdiction to enjoin the acts or practices and to enforce compliance with any provision of this act. L.2019, c.65, s.15.
NJ Rev Stat § 17:16F-42 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-42 - Violators barred from acting as residential mortgage servicer.

17:16F-42 Violators barred from acting as residential mortgage servicer.  16. The commissioner may order that any person who has been found to have knowingly violated any provision of this act, or of the rules and regulations issued pursuant hereto, and has thereby caused financial harm to consumers, be barred from acting as a residential mortgage servicer, residential mortgage lender, residential mortgage broker, or mortgage loan originator, or a stockholder, an officer, director, partner or other owner, or an employee of a licensee, or acting in any other capacity pursuant to this act. A violation of this final order shall be considered a crime of the third degree. L.2019, c.65, s.16.
NJ Rev Stat § 17:16F-43 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-43 - Civil penalty.

17:16F-43 Civil penalty.  17. The commissioner may impose a civil penalty not exceeding $25,000 on any person for a violation of this act. Each violation of this act, including any order, rule or regulation made or issued pursuant to this act, shall constitute a separate offense. Additionally, each violation of this act which constitutes a knowing violation shall be considered a crime of the third degree.  L.2019, c.65, s.17.
NJ Rev Stat § 17:16F-44 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-44 - Construction of act.

17:16F-44 Construction of act.  18. The rights, remedies and prohibitions accorded by the provisions of this act are in addition to and cumulative of any right, remedy or prohibition accorded by the common law or any statute of this State and nothing contained herein shall be construed to deny, abrogate, or impair any common law or statutory right, remedy or prohibition. The Attorney General and the Division of Consumer Affairs in the Department of Law and Public Safety shall continue to have the authority to enforce civil and criminal violations of the consumer fraud act, P.L.1960, c.39 (C.56:8-1 et seq.), or any other applicable law, rule or regulation in connection with the activities of mortgage servicers. L.2019, c.65, s.18.
NJ Rev Stat § 17:16F-45 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-45 - Inapplicability.

17:16F-45 Inapplicability.  19. The provisions of sections 3 through 12 of this act shall not apply to: (1) a person exempt from licensure as a residential mortgage lender pursuant to the "New Jersey Residential Mortgage Lending Act," P.L.2009, c.53 (C.17:11C-51 through C.17:11C-89), while servicing residential mortgage loans made pursuant to the exemption;  (2) a person servicing five or fewer residential mortgage loans within any period of twelve consecutive months;  (3) any agency of the federal government, any state or municipal government or any quasi-governmental agency servicing residential mortgage loans under the specific authority of the laws of any state or the United States; and  (4) a person exempt from licensure as a mortgage servicer pursuant to paragraphs (1), (2), and (3) of subsection b. of section 3 of this act. L.2019, c.65, s.19.
NJ Rev Stat § 17:16F-46 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16F-46 - Rules, regulations.

17:16F-46 Rules, regulations.  20. The Commissioner of Banking and Insurance may adopt rules and regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), including any fines or penalties, necessary to effectuate the provisions of this act. L.2019, c.65, s.20.
NJ Rev Stat § 17:16G-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16G-1 - Definitions.

17:16G-1 Definitions.  1. As used in this act: a. "Nonprofit social service agency" or "nonprofit consumer credit counseling agency" means any corporation duly organized under Title 15 of the Revised Statutes or Title 15A of the New Jersey Statutes, no part of the assets, income or profit of which is distributable to, or enures to the benefit of its members, directors or officers, except to the extent permitted under this act, and which is engaged in debt adjustment.  b. "Credit counseling" means any guidance or educational program or advice offered by a nonprofit social service agency or nonprofit consumer credit counseling agency for the purpose of fostering the responsible use of credit and debt management.  c. (1) "Debt adjuster" means a person who either (a) acts or offers to act for a consideration as an intermediary between a debtor and his creditors for the purpose of settling, compounding, or otherwise altering the terms of payment of any debts of the debtor, or (b) who, to that end, receives money or other property from the debtor, or on behalf of the debtor, for payment to, or distribution among, the creditors of the debtor.  (2) The following persons shall not be deemed debt adjusters: (a) an attorney-at-law of this State who is not principally engaged as a debt adjuster; (b) a person who is a regular, full-time employee of a debtor, and who acts as an adjuster of his employer's debts; (c) a person acting pursuant to any order or judgment of court, or pursuant to authority conferred by any law of this State or the United States; (d) a person who is a creditor of the debtor, or an agent of one or more creditors of the debtor, and whose services in adjusting the debtor's debts are rendered without cost to the debtor; (e) a person who, at the request of a debtor, arranges for or makes a loan to the debtor, and who, at the authorization of the debtor, acts as an adjuster of the debtor's debts in the disbursement of the proceeds of the loan, without compensation for the services rendered in adjusting those debts; or (f) a person who is: (i) certified by the United States Secretary of Housing and Urban Development as a housing counseling organization or agency pursuant to section 106 of Pub.L.90-448 (12 U.S.C. s.1701x); (ii) participating in a counseling program approved by the New Jersey Housing and Mortgage Finance Agency; and (iii) not holding or disbursing the debtor's funds.  d. "Debtor" means an individual or two or more individuals who are jointly and severally, or jointly or severally indebted.  L.1979, c.16, s.1; amended 1986, c.184, s.1; 2009, c.173, s.1.
NJ Rev Stat § 17:16G-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16G-2 - Debt adjuster

17:16G-2. Debt adjuster  a. No person other than a nonprofit social service agency or a nonprofit consumer credit counseling agency shall act as a debt adjuster.  b. It shall be unlawful for any nonprofit social service agency or nonprofit consumer credit counseling agency to act as a debt adjuster without first obtaining a license from the Commissioner of the Department of Banking pursuant to this act.  c. A licensee is authorized to offer credit counseling.  L. 1979, c. 16, s. 2, eff. Feb. 8, 1979. Amended by L. 1986, c. 184, s. 2, eff. Dec. 10, 1986.
NJ Rev Stat § 17:16G-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16G-3 - Application for licensure

17:16G-3. Application for licensure  Application for said license shall be made on forms prescribed by the commissioner, who shall be empowered to require information deemed necessary to demonstrate that the applicant is qualified to be licensed and possesses the necessary financial resources to sustain its operation.  L. 1979, c. 16, s. 3, eff. Feb. 8, 1979. Amended by L. 1986, c. 184, s. 3, eff. Dec. 10, 1986.
NJ Rev Stat § 17:16G-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16G-4 - Duties of commissioner; fees

17:16G-4. Duties of commissioner; fees  The commissioner shall promulgate procedures and standards for the issuance or denial of licenses, shall promulgate grounds for and procedures under which licenses may be revoked, suspended, or reinstated, and shall establish fees necessary to meet administrative costs under this act. L.1979, c. 16, s. 4, eff. Feb. 8, 1979.
NJ Rev Stat § 17:16G-6 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16G-6 - Debt adjustment fee

17:16G-6. Debt adjustment fee  a. A licensee may charge a fee to cover the cost of providing debt adjustment and credit counseling.  b. The fee for debt adjustment shall not exceed 1% of the gross monthly income of the person to whom the service is rendered, but in no case more than $15.00 in any one month, except as may be otherwise provided by rule or regulation promulgated by the commissioner. This fee may be waived in the discretion of the licensee.  c. The commissioner is authorized to establish the maximum fee that may be charged for credit counseling.  L. 1979, c. 16, s. 6, eff. Feb. 8, 1979. Amended by L. 1986, c. 184, s. 4, eff. Dec. 10, 1986.
NJ Rev Stat § 17:16G-7 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16G-7 - Board of directors of agency

17:16G-7. Board of directors of agency  Every nonprofit social service agency or nonprofit consumer credit counseling agency licensed under this act shall establish a board of directors whose function shall be to establish the policies of such agency. No more than 40% of the members of the board of directors shall have as their principal employer any corporation, association or institution which offers credit to the general public. L.1979, c. 16, s. 7, eff. Feb. 8, 1979.
NJ Rev Stat § 17:16G-8 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16G-8 - Penalties; summary action; civil action.

17:16G-8 Penalties; summary action; civil action.  8. Any person who violates any provisions of this act shall be subject to a penalty of $1,000 for the first offense and not more than $5,000 for the second and each subsequent offense to be collected by and in the name of the commissioner in a summary proceeding under the "Penalty Enforcement Law of 1999," P.L.1999, c.274 (C.2A:58-10 et seq.).  If the commissioner has reason to believe that any person or licensee has engaged in or is engaging in any practice or transaction prohibited by P.L.1979, c.16 (C.17:16G-1 et seq.), the commissioner may, in addition to any remedies available, bring a summary action in the name of and on behalf of the State against the person or licensee and any other person concerned or in any way participating in or about to participate in those practices or transactions, to enjoin the person or licensee from continuing those practices or engaging in or doing any act in furtherance of those practices or in violation of that act. In addition to any other remedies or penalties available for a violation of P.L.1979, c.16 (C.17:16G-1 et seq.), any debtor injured by a violation of P.L.1979, c.16 (C.17:16G-1 et seq.) may bring a civil action for recovery of damages. L.1979,c.16,s.8; amended 1986, c.184, s.5; 2005, c.287, s.2.
NJ Rev Stat § 17:16G-9 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16G-9 - Responsibilities of licensee acting as debt adjuster.

17:16G-9 Responsibilities of licensee acting as debt adjuster.  3. Every licensee acting as a debt adjuster shall: a. disburse to the appropriate creditors all funds received from a debtor, less any fees permitted by section 6 of P.L.1979, c.16 (C.17:16G-6), within 10 days of receipt of those funds; b. maintain a separate trust account in a qualified bank as defined in paragraph (12) of section 1 of P.L.1948, c.67 (C.17:9A-1), in the name of the debt adjuster for the benefit of the debtors serviced by the debt adjuster; and c. maintain an appropriate ledger book for the trust account required by subsection b. of this section, having at least one single page for each debtor, with appropriate entries of all deposits into and disbursements from each debtor's account, including copies of all records showing disbursements to creditors and receipts from debtors, which ledger book and records shall be maintained in accordance with generally accepted accounting principles for not less than six years following the close of each debtor's account. L.2005, c.287,s.3.
NJ Rev Stat § 17:16H-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16H-1 - Definitions.

17:16H-1 Definitions.  1. As used in this act: a. "Financial institution" shall mean any bank, savings bank, state association, credit union, residential mortgage lender, residential mortgage broker, consumer lender or any other institution, corporation, partnership or individual subject to the supervision, regulation or licensing by the Department of Banking and Insurance. b. "Commissioner" shall mean the Commissioner of Banking and Insurance of New Jersey. L.1979, c.193, s.1; amended 2018, c.108, s.16.
NJ Rev Stat § 17:16H-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16H-2 - Prohibited advertisements, announcements or statements

17:16H-2. Prohibited advertisements, announcements or statements  No financial institution shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in a newspaper, magazine or other publication, or in the form of a notice, circular, pamphlet, letter or poster, or over any radio or television station, or in any other way, an advertisement, announcement or statement containing any assertion, representation or statement with respect to the business of banking, lending or being a financial institution or with respect to any person in the conduct of such business, which is inaccurate, untrue, deceptive or misleading, or which negatively affects the public's confidence in such financial institution or financial institutions in general. L.1979, c. 193, s. 2, eff. Sept. 13, 1979.
NJ Rev Stat § 17:16H-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16H-3 - Enforcement; regulations

17:16H-3. Enforcement; regulations  The commissioner shall enforce the provisions of this act and shall promulgate such regulations as he deems necessary for the effective implementation of this act, including regulations establishing standards for advertising by financial institutions. L.1979, c. 193, s. 3, eff. Sept. 13, 1979.