U.S. Senators Bob Menendez, a senior member of the Senate Banking Committee, and Cory Booker today joined a group of their colleagues in introducing legislation that would require loan quality criteria be made publically available by any lender issuing a significant number of mortgages and home equity lines of credit each year.
Menendez, Schatz, Colleagues Urge Banks, Creditors to Implement Relief Measures for Federal Workers Struggling...
U.S. Senators Bob Menendez (D-N.J.) and Brian Schatz (D-Hawaii), members of the Senate Banking Committee, today led the call for banks, lenders and financial institutions to work with their customers who have been impacted by the partial government shutdown and are at risk of falling behind on their monthly bills. As the Trump Shutdown continues into its fifth week, many of the 800,000 federal employees
June 2, 2017 Christie Administration Marks Grand Opening of Lacey Township Affordable Housing Units...
The first phase of an affordable housing development in Lacey Township, which was built using Superstorm Sandy recovery funds and is now home to several Sandy-impacted residents, marked its grand opening this week with New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta and other local officials.
The New Jersey Department of Community Affairs (DCA) today announced a free Housing Resource Fair will be held Tuesday, December 13, 2016, in Little Ferry, Bergen County, to provide Sandy-impacted residents with information about available housing resources
New Jersey Attorney General, Division of Consumer Affairs, and Department of Banking and Insurance...
Attorney General Christopher S. Porrino, the Division of Consumer Affairs, and the Department of Banking and Insurance have filed an action against three North Jersey individuals and the companies they operated, for allegedly defrauding financially strapped consumers who paid for mortgage foreclosure rescue services to save their homes from foreclosure
Statewide Housing Association Joins State to Host Housing Resource Fairs for Sandy-Impacted Residents
Housing and Community Development Network of New Jersey (the Network) is partnering with the New Jersey Department of Community Affairs (DCA) and the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to host free Housing Resource Fairs in Monmouth and Ocean counties to provide Sandy-impacted residents with information about available housing resources.
Since the October 2015 implementation of the Consumer Financial Protection Bureau’s ‘Know Before You Owe’ mortgage initiative, Realtors® have raised red flags over challenges in gaining access to what’s known as the mortgage “closing disclosure” form, or CD. The CD is delivered to homebuyers in advance of their closing and contains important financial information related to their purchase.
Representatives from Valley National Bank presented housing counselors from non-profit community development organizations their latest homeowner mortgage product. Pictured from left to right: Staci Berger, president and chief executive officer of the Network; Bernadette Mueller, executive vice president and senior community reinvestment act officer, Valley National Bank; Elizabeth DeLaney, first senior vice president; Victor Urbanovich, senior vice president and residential mortgage loan officer, Valley National Bank; and Sharon Barker, vice president and chief operating officer, the Network
New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta recently joined elected state and local officials and community leaders to celebrate the groundbreaking of Keansburg Mixed Income, a project that features an eight-story high-rise complex of 186 rental apartments. The new residences will be affordable and market-rate. The developer is RPM Development LLC located in Montclair.
Christie Administration Announces Housing Recovery Information Session in Hudson County to Assist Homeowners Hard...
In its continued effort to meet and assist Sandy-impacted families right in their home communities, the Christie Administration today announced that the 31st Information Session will be held Thursday, February 25, 2016, at the Guarini Institute for Government and Leadership at Saint Peter’s University in Jersey City, to provide personal assistance for storm-affected homeowners participating in the Reconstruction, Rehabilitation, Elevation and Mitigation (RREM) Program and LMI Homeowners
Acting Attorney General John J. Hoffman announced today that New Jersey has joined a major multi-state and federal settlement with mortgage lender and servicer HSBC that resolves allegations the company engaged in abusive business practices in the handling of its mortgage loans
Acting Commissioner Badolato Congratulates Graduating Class of Mortgage Loan Officers at Camden County Community...
Department of Banking and Insurance Acting Commissioner Richard J. Badolato recently congratulated 19 students graduating from a class for Mortgage Loan Officers at Camden County Community College and told them that their training prepared them to serve a vital role in today’s economy
U.S. Senator Bob Menendez today held a roundtable discussion with a wide-range of stakeholders in his Newark office to develop solutions to tackle New Jersey’s foreclosure crisis. New Jersey’s foreclosure rate outpaces every other state and is two and one-half times the national rate.
Christie Administration Marks Grand Opening of Affordable Housing Project in Tenafly, Bergen County Assisted...
The New Jersey Housing and Mortgage Finance Agency (HMFA) today joined local officials and representatives from Bergen County United Way and Madeline Housing Partners, LLC to celebrate the grand opening of Tenafly Supportive Housing, a six-unit affordable housing development for special needs individuals in Tenafly Township, Bergen County
Christie Administration Marks Groundbreaking of Affordable Housing Project in Bergen County Financed with Federal...
New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta today joined local officials and representatives of Domus Corporation and The Housing Development Corporation of Bergen County to celebrate the groundbreaking of Northvale Senior Residence, a 30-unit affordable senior housing development.
A Nutley, New Jersey, man was sentenced today to 24 months in prison for his role in a massive mortgage fraud scheme involving multiple properties in Elizabeth, New Jersey, U.S. Attorney Paul J. Fishman announced
Pallone Holds Roundtable on Dodd-Frank and Protecting New Jersey from Abusive Mortgage Industry Practices
In recognition of the 5th anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congressman Frank Pallone, Jr. (NJ-06) held a roundtable discussion today in Highland Park with NJ Citizen Action, consumer protection advocates and New Jerseyans who have benefited from the law. The roundtable highlighted the Dodd-Frank law and the work of the Consumer Financial Protection Bureau (CFPB).
Acting Attorney General John J. Hoffman announced that a mortgage broker from Jersey City was sentenced to state prison today for laundering the proceeds of a criminal scheme in which he conspired to steal more than $1.2 million from lenders by filing fraudulent mortgage applications, diverting mortgage proceeds and falsifying settlement statements.
New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta recently joined representatives of the New Jersey Department of Human Services’ Division of Developmental Disabilities (DDD), Our House, Inc. (OHI), and Youth Consultation Service (YCS) Inc. to celebrate the grand opening of Sawtelle Emmans Home, an affordable permanent supportive rental housing project in the Roxbury Township, Morris County.
U.S. Senator Bob Menendez commended actions announced today by the Department of Housing and Urban Development’s Federal Housing Administration (FHA) to strengthen the Distressed Asset Stabilization Program (DASP) in order to help struggling homeowners avoid foreclosure and stay in their homes, and assist communities suffering with high concentrations of foreclosures and distressed mortgages.