New Jersey § 46:10b-49

§ 46:10b-49.

a. (1) Except as provided in paragraph (2) of this subsection, a creditor that institutes a mortgage foreclosure action in the Superior Court of New

Jersey shall report to the Department of Banking and Insurance, on a quarterly basis

and on a form promulgated by the department, information about the number of mortgage

foreclosure actions filed by the creditor in the State. (2) When a creditor or other person is required by any Rule of Court or otherwise

by law to file electronically with the Superior Court of New Jersey pleadings in an

action to foreclose on a mortgage, and the Administrative Office of the Courts is

capable of collecting and transmitting the data set forth in paragraphs (1) through

(8) of subsection b. of this section in electronic form, the creditor or other person

shall transmit the data to the Superior Court, in a manner prescribed by the Superior

Court, as part of the pleadings in an action to foreclose a mortgage. The Administrative Office of the Courts shall collect the electronically submitted

data and transmit it to the Department of Banking and Insurance, which shall produce

and make available on its website quarterly reports, as set forth in subsection b.

of this section. b. The Department of Banking and Insurance shall produce a report, on a quarterly

basis , detailing information about mortgage foreclosures filed by creditors in each county

of the State, and shall make the report available to the public on its website. The report shall describe the type of mortgage being foreclosed on based on the

following categories: (1) prime rate mortgages foreclosed upon; (2) subprime rate mortgages foreclosed upon; (3) fixed rate mortgages foreclosed upon; (4) adjustable rate mortgages foreclosed upon; (5) nonconforming mortgages, as defined by Fannie Mae, Freddie Mac, or their successors; (6) mortgages insured by the Federal Housing Administration foreclosed upon; (7) mortgages insured by the Veteran's Administration foreclosed upon; and (8) any other category of classification the department deems appropriate to effectuate

the purpose of this section. c. The Department of Banking and Insurance, pursuant to the “Administrative Procedure

Act,” P.L.1986, c. 410 ( C.52:14B-1 et seq. ) shall adopt regulations necessary to effectuate the purpose of this section. Following the enactment of P.L.2009, c. 296 ( C.2A:50-69 et al.), the department, in consultation with the Administrative Office of the Courts,

shall adopt regulations necessary to effectuate the purpose of this section.