New Jersey Statutes 17:16F-37. Compliance with federal laws, regulations
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 17:16F-37
- 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
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. § 2601 et seq.); and
(2) the “Truth-in-Lending Act” (15 U.S.C. § 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.