43:16A-16.12. Administration of mortgage loan program
5. The State Treasurer shall delegate the administration of this mortgage loan program to the New Jersey Housing and Mortgage Finance Agency established under section 4 of P.L.1983, c.530 (C.55:14K-4). The agency shall: a. originate loans; b. appraise the value of any real property eligible to be mortgaged under this act; c. guarantee and insure title to the real property; and d. perform any other service necessary to accomplish the purposes of this act in a manner consistent with the protection of the rights of beneficiaries of the retirement system. The cost of the performance of these services in connection with the making of a mortgage loan shall be charged to the borrower and included in the amount of that mortgage loan.
L.1992,c.78,s.5.
Section: Previous 43-16a-15.7 43-16a-16 43-16a-16.1 43-16a-16.2 43-16a-16.9 43-16a-16.10 43-16a-16.11 43-16a-16.12 43-16a-16.13 43-16a-16.14 43-16a-16.15 43-16a-16.16 43-16a-17 43-16a-17.1 43-16a-18 Next
Last modified: October 11, 2016