Extract
The New Jersey Predatory Lending Act.
NEW JERSEY'S NEW PREDATORY LENDing law, the New Jersey Home Ownership Security Act of 2002, 46:10B-22 et seq (NJ2003), which is effective Nov. 27, 2003, appears to be one of the most stringent predatory lending laws to date. Because of its many prohibitions and less-than-clear language, it is a source of much confusion and concern among lenders and purchasers of loans subject to the act. The act provides restrictions ...
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