Riker Danzig Partner Michael O’Donnell and associates Michael Crowley and Clarissa Gomez co-authored an article in the Spring 2018 issue of New Jersey Banker Magazine entitled “New Jersey’s Department of Banking and Insurance Adopts New Mortgage Processing Requirements.”  The article discusses two changes regarding residential mortgages and how these changes will affect residential lenders.   

Please note that the disclosure of mortgage loan application fees issue is still evolving.  After publication of this article, the Department of Banking and Insurance determined that the disclosures will not currently be mandatory and financial institutions are currently free to decide on their own whether to incorporate such disclosures in their forms.   

Click here to read the entire article.