Title 46, Title 46: PROPERTY

46:10B-55 Requirements for licensure of foreclosure consultant. 3. a. A foreclosure consultant shall not conduct any business in this State until the foreclosure consultant: (1) (a) Obtains a license from the Commissioner of Banking and Insurance by filing an application form to …

46:10B-56 Foreclosure consultant contract. 4. a. A foreclosure consultant contract shall be written in plain language and shall fully disclose the exact nature of the foreclosure consultant's services to be performed, the foreclosure consultant's representations, the distressed p…

46:10B-57 Additional legal rights of owner. 5. a. In addition to any other legal right to rescind a foreclosure consultant contract, an owner has the right to cancel a foreclosure consultant contract at any time until after the foreclosure consultant has fully performed every ser…

46:10B-58 Violations relative to foreclosure consultants. 6. It is a violation of this act for a foreclosure consultant to: a. claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed every distressed property service …

46:10B-59 Waiver void, unenforceable. 7. a. Any waiver by an owner of the provisions of section 4, 5, or 6 of this act is void and unenforceable as contrary to public policy. b. Any attempt by a foreclosure consultant to induce an owner to waive the owner's rights is a violation …

46:10B-6. Failure to deliver cancellation or discharge; forfeiture of fee Any holder of a mortgage loan or agent acting on behalf of such holder who shall willfully fail or refuse to deliver a cancellation or discharge of a mortgage loan within a reasonable time after tender to h…

46:10B-60 Written contract required for conveyance of distressed property. 8. a. A distressed property purchaser who enters into a distressed property conditional conveyance or a distressed property conveyance shall do so in the form of a written contract. A distressed property c…

46:10B-61 Additional right of rescission, cancellation of contract. 9. a. In addition to any other right of rescission provided by applicable State or federal laws, the owner has the right to cancel a distressed property conditional conveyance contract or a distressed property co…

46:10B-62 Option of cancellation statement in contract. 10. a. A distressed property conditional conveyance contract and a distressed property conveyance contract with a distressed property purchaser shall contain in immediate proximity to the space reserved for the owner's signa…

46:10B-63 Prohibited actions of distressed property purchaser. 11. a. A distressed property purchaser, in the course of a distressed property conditional conveyance, shall not: (1) enter into, or attempt to enter into, a distressed property conditional conveyance unless the distr…

46:10B-64 Requirements for distressed property purchaser. 12. A distressed property purchaser, in the course of a distressed property conveyance, shall not fail to: a. make a payment to the owner at the time the title to the distressed property is conveyed from the owner to the d…

46:10B-65 Waiver void, unenforceable. 13. Any waiver of the provisions of section 8, 9, 10, 11, or 12 of this act is void and unenforceable as contrary to public policy. L.2011, c.146, s.13.

46:10B-66 Powers of commissioner relative to compliance. 14. a. The Commissioner of Banking and Insurance may investigate or examine any foreclosure consultant, or other person as the commissioner deems necessary to determine compliance with this act. For these purposes, the comm…

46:10B-67 Violations, penalties; degree of crime. 15. a. Any person who violates any provision of this act shall, in addition to any other penalty provided by law, be liable to a penalty of not more than $10,000 for the first offense, and not more than $20,000 for the second and …

46:10B-68 Enforcement, regulations. 16. The Commissioner of Banking and Insurance shall enforce the provisions of this act, and may promulgate regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) necessary to effectuate the purposes of …

46:10B-7. Failure to accept additional payments; forfeiture of interest Any holder of a mortgage loan or agent acting on behalf of such holder who shall wilfully fail or refuse to accept additional payments tendered pursuant to section 3 of this act shall forfeit his right to rec…

46:10B-8. Increase in interest rate; limitation If any mortgage loan or written contract or commitment for such loan provides for an increase in the rate of interest during the term of such loan, or after the execution of a written contract or commitment for such a loan, the incr…

46:10B-9. Application of act This act shall not apply to loans secured by a mortgage on real property the prepayment of which is governed by any other statute of this State or of the United States, nor shall it apply to any loans, secured by mortgage on real property, made pursua…