New Jersey Administrative Code
Title 3 - BANKING
Chapter 10 - MORTGAGES
- Subchapter 1 THROUGH 4 - RESERVED
- Subchapter 5 - CHARGE FOR SUBSTITUTION OF POLICIES
- Subchapter 6 THROUGH 7 - RESERVED
- Subchapter 8 - APPRAISAL VALUE RELAXED FOR CERTAIN LOANS
- Subchapter 9 - REPORTING REQUIREMENTS ON MORTGAGE FORECLOSURE ACTIONS
CHAPTER SOURCE AND
EFFECTIVE DATE:
Effective: November 23, 2021.
See: 53
N.J.R. 2135(b).
CHAPTER HISTORICAL NOTE:
Chapter 10,
Mortgages, was adopted and became effective prior to September 1, 1969.
Subchapter 8, Appraisal Value Relaxed for Certain Loans, was adopted as new rules by
R.2004 d.282, effective July 19, 2004. See: 36 N.J.R. 1261(a), 36 N.J.R. 3397(a).
Chapter 10, Mortgages, was readopted as R.2006 d.442, effective
November 21, 2006. As part of R.2006 d.442, Subchapter 1, Limitations on Mortgage
Loans, Subchapter 2, Extension of the Time Factor in Connection with Construction
Mortgage Loans, Subchapter 3, Pledging Collateral Security For Certain Excess
Mortgage Loans, Subchapter 4, Increase in Ratio of Mortgage to Appraise Value of
Mortgaged Property, Subchapter 6, Out-of-State Mortgages, and Subchapter 7,
Secondary Mortgage Loans, were repealed, effective December 18, 2006. See: 38 N.J.R.
3105(a), 38 N.J.R. 5354(b).
Subchapter 9, Reporting Requirements on
Mortgage Foreclosure Actions, was adopted as new rules by R.2009 d.350, effective
November 16, 2009. See: 41 N.J.R. 2367(a), 41 N.J.R. 4193(a).
In
accordance with N.J.S.A. 52:14B-5.1b, Chapter 10, Mortgages, was scheduled to expire
on November 21, 2013. See: 43 N.J.R. 1203(a).
Chapter 10, Mortgages,
was readopted, effective April 9, 2014. See: 46 N.J.R. 5(a), 46 N.J.R. 759(c).
In accordance with
N.J.S.A.
52:14B-5.1, Chapter 10, Mortgages, was scheduled
to expire on April 9, 2021. Pursuant to Executive Order Nos. 127 (2020) and 244
(2021) and
P.L.
2021, c. 103, any chapter of
the New Jersey Administrative Code that would otherwise have expired during the
Public Health Emergency originally declared in Executive Order No. 103 (2020) is
extended through January 1, 2022. Chapter 10, Mortgages, was readopted, effective
November 23, 2021. See: Source and Effective Date.
CHAPTER AUTHORITY:
N.J.S.A. 17:1-8, 8.1, and 15; and 17:9A-64.1, 17:12B-48(21), and 46:10B-49.