2016 New Jersey Revised Statutes
Title 46 - Property
Section 46:10B-5 - Violation; Return Of Fees Plus Interest

NJ Rev Stat § 46:10B-5 (2016) What's This?

46:10B-5. Violation; return of fees plus interest
Any holder of a mortgage loan or agent acting on behalf of the holder of a mortgage loan who shall knowingly demand and receive prepayment fees, except as provided in this act, shall be liable to the mortgagor for the return of the whole amount of the prepayment fees so received, plus interest thereon from the date of such receipt at the rate of 6% per annum.

L.1968, c. 54, s. 5, eff. June 6, 1968.

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