2016 New Jersey Revised Statutes
Title 46 - Property
Section 46:10B-11 - Points; Liability For Receiving

NJ Rev Stat § 46:10B-11 (2016) What's This?

46:10B-11. Points; liability for receiving
Any holder of a mortgage loan or agent acting on behalf of the holder of a mortgage loan who shall knowingly receive points as defined herein shall be liable to the mortgagor for the return of the points and all interest paid on the mortgage loan plus a penalty of $1,000.00 and costs to be recovered by the mortgagor in a civil action instituted within 6 years from the date of payment of the points.

L.1968, c. 54, s. 11, eff. June 6, 1968.

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