N.J. Admin. Code § 3:15-8.1 - Advertising and insurance costs

Current through Register Vol. 54, No. 7, April 4, 2022

If a mortgage lender requires a borrower to insure the collateral assigned as security for a loan, the licensee shall not advertise that there are "no other costs," or use words of similar meaning, unless the terms represented in the advertisement include the cost of the insurance or unless the advertisement states that an additional charge for insurance is required.

Notes

N.J. Admin. Code § 3:15-8.1
Amended by R.2010 d.129, effective 6/21/2010 (operative July 31, 2010).
See: 41 N.J.R. 2829(a), 42 N.J.R. 1139(b).
Deleted "banker, correspondent mortgage banker, secondary lender or consumer" following "If a mortgage".

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