New Jersey § 17:11c-83
Full text of New Jersey New Jersey Statutes § 17:11c-83, with citation guidance and answers to common questions.
§ 17:11c-83.
In addition to the prohibited practices set forth pursuant to section 25 of this act 1 for any mortgage loan, the following shall be prohibited and a violation of this
act with respect to any secondary mortgage loan: a. No residential mortgage lender shall, consistent with section 17 of this act, 2 engage in any business regulated by this act under any other name or at any other
location except that designated in the licensee's license. For the purpose of this subsection, the transaction of business includes, but is
not limited to, the signing of any instrument, document or any other form by the borrower,
except that a borrower's application for a secondary mortgage loan need not be signed
in the office of the licensee and the loan need not be closed at the office of the
licensee, so long as it is closed in New Jersey at the office of an attorney admitted
to practice in this State, or a licensed title company or producer. b. No residential mortgage lender or residential mortgage broker shall request that
a borrower incorporate in connection with a secondary mortgage loan, or aid or abet
a scheme to incorporate a borrower. c. No residential mortgage lender shall make a secondary mortgage loan which has been
referred by a retail seller, who, in connection with that referral, has required the
borrower to purchase personal property or services, or has indicated that the purchase
is necessary as a condition precedent for the loan. d. No residential mortgage lender or residential mortgage broker shall require or
accept from a borrower any collateral or security for a secondary mortgage loan other
than a mortgage, indenture or any other similar instrument or document which creates
a lien upon any real property or an interest in real property including, but not limited
to, shares of stock in a cooperative corporation. 1
N.J.S.A. § 17:11C-75 2
N.J.S.A. § 17:11C-67.
Frequently Asked Questions About New Jersey § 17:11c-83
What does New Jersey Statutes § 17:11c-83 cover?
Section 17:11c-83 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 17:11c-83?
A common citation format is "New Jersey Statutes § 17:11c-83" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 17:11c-83 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.