New Jersey Statutes
§ 17:12B-145.1 — Origination, acquisition of mortgage loans by association
New Jersey § 17:12B-145.1
JurisdictionNew Jersey
Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
This text of New Jersey § 17:12B-145.1 (Origination, acquisition of mortgage loans by association) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.J. Stat. Ann. § 17:12B-145.1 (2026).
Text
26.An association may originate or acquire mortgage loans secured by a mortgage constituting a lien upon real property or upon a lease of the fee of real property, so long as the association observes prudent lending practices, including amortization of the loans. The value of any mortgage loan shall not exceed 90 per cent of the appraised value of the mortgaged property, except for a mortgage loan that is less than $100,000 or as permitted by the Commissioner of Banking and Insurance by regulation. An association shall obtain an appropriate evaluation of the real property collateral that is consistent with safe and sound banking practices.L.1997,c.33,s.26.
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Nearby Sections
15
§ 17:12B-1
Construction as revision of prior laws§ 17:12B-10
Per capita assets§ 17:12B-103
Pledge of account to association§ 17:12B-11
Mortgage deemed first lien.§ 17:12B-110
Transfer of membership§ 17:12B-111
Lost certificates and account books§ 17:12B-112
Termination of membership§ 17:12B-113
Notice to members§ 17:12B-114
Meeting place.§ 17:12B-115
Meetings§ 17:12B-116
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Bluebook (online)
New Jersey § 17:12B-145.1, Counsel Stack Legal Research, https://law.counselstack.com/statute/nj/17/17%3A12B-145.1.