N.J. Admin. Code § 3:10-9.2
The following words and terms shall have the following meaning for purposes of this subchapter:
"Adjustable rate mortgage" means a mortgage loan that does not have a fixed interest rate or on some other basis. During the life of the loan, the interest rate will change based on a specified index rate or on some other basis. Also known as adjustable mortgage loans or variable rate mortgages.
"Conforming mortgage" means a mortgage with a loan amount that does not exceed the loan limits set by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) or their successors.
"Creditor" means a mortgagee or an agent or assignee of a mortgagee, such as the servicer, who has filed a complaint in the Superior Court of New Jersey seeking to foreclose upon a residential mortgage.
"FHA mortgage" means a mortgage insured by the Federal Housing Administration.
"FICO score" means a borrower's credit score calculated using methodology developed by Fair Isaac Corporation.
"Fixed rate mortgage" means a mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.
"Interest only mortgage" means a mortgage where the borrower has the option of paying only the interest for a limited period of time.
"Mortgage foreclosure proceeding instituted" means the filing of a complaint in the Superior Court of New Jersey seeking to foreclosure upon a residential mortgage.
"Nonconforming mortgage" means a mortgage with a loan amount that exceeds the loan limits set by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac), or their successors.
"Prime market rate mortgage" means a residential mortgage given to a borrower with a FICO score of 660 or more.
"Reporting quarter" means the calendar quarter immediately prior to the month in which the data is being inputted in accordance with this subchapter.
"Residential mortgage" means a mortgage in which the security is an owner occupied residential property of not more than four dwelling units as defined by N.J.S.A. 2A:50-55.
"Servicer" means a business that collects mortgage payments from borrowers and manages the borrower's escrow accounts.
"Subprime market rate mortgage" means a residential mortgage given to a borrower with a FICO score of less than 660.
"USDA Rural Development Loan" means a mortgage insured by Rural Development Office of the United States Department of Agriculture.
"VA mortgage" means a mortgage insured by the Veteran's Administration.
N.J. Admin. Code § 3:10-9.2