New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 80 - NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY
Subchapter 14 - MAKING OR PURCHASING ELIGIBLE LOANS FOR SINGLE FAMILY HOME IMPROVEMENT
Section 5:80-14.1 - Commitment applications

Universal Citation: NJ Admin Code 5:80-14.1

Current through Register Vol. 56, No. 18, September 16, 2024

(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.

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