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Section 17:16F-31 - Filing of information relative to mortgages serviced.

NJ Rev Stat § 17:16F-31 (2019) (N/A)
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17:16F-31 Filing of information relative to mortgages serviced.

5. At least annually, a mortgage servicer shall file with the commissioner the following information with respect to mortgages that it services in this State:

a. a current schedule of the ranges of costs and fees it charges mortgagors for its servicing-related activities;

b. a report in a form and format acceptable to the commissioner detailing the mortgage servicer's activities in the State, including:

(1) the number of residential mortgage loans the mortgage servicer is servicing; and

(2) the type and characteristics of the residential mortgage loans the mortgage servicer is servicing;

c. the number of serviced residential mortgage loans in default, along with a breakdown of 30, 60, and 90-days of delinquency;

d. a description of the mortgage servicer's loss mitigation activities, including details on workout arrangements undertaken; and

e. the number of foreclosures commenced.

L.2019, c.65, s.5.

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