N.J. Admin. Code § 3:30-9.1 - Rights, remedies, prohibitions declared additional, cumulative
(a) Pursuant to
N.J.S.A. 46:10B-30, the rights, remedies,
and prohibitions accorded by the provisions of this chapter are hereby declared
to be in addition to and cumulative of any other right, remedy, or prohibition
accorded by the common law or statutes of the United States or of this State,
and nothing herein shall be construed to deny, abrogate, or impair any such
common law or statutory right, remedy, or prohibition. Without limiting the
foregoing, the rights, remedies and prohibitions accorded by this chapter are
hereby further declared to create no presumption that any home loan or any term
in a home loan is not unconscionable, whether or not the home loan or loan
term, alone or in conjunction with other terms of the loan, violates the
provisions of this chapter.
(b) In
accordance with
N.J.S.A. 46:10B-23.d, the amendments in
P.L.
2004 , c. 84 to the New
Jersey Home Ownership Security Act of 2002,
N.J.S.A. 46:10B-22 et seq., deleting the
covered home loan category from
N.J.S.A. 46:10B-25 and the prohibition on
flipping a home loan , shall create no presumption that any home loan that has
been refinanced is not unconscionable. The deletions of the covered home loan
category and of the prohibition on flipping from
N.J.S.A. 46:10B-25 shall also create no
presumption that any home loan that is refinanced does not constitute an
unlawful practice under the Consumer Fraud Act,
N.J.S.A. 56:8-1 et seq.
Notes
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