Section 43:16A-16.12 - Administration of mortgage loan programThe board of trustees shall delegate the administration of this mortgage loan program to the New Jersey Housing and Mortgage Finance Agency established under section 4 of P.L. 1983, c.530 (C.55:14K-4). The agency shall:
b. appraise the value of any real property eligible to be mortgaged under this act;c. guarantee and insure title to the real property; andd. perform any other service necessary to accomplish the purposes of this act in a manner consistent with the protection of the rights of beneficiaries of the retirement system. The cost of the performance of these services in connection with the making of a mortgage loan shall be charged to the borrower and included in the amount of that mortgage loan.Amended by L. 2018, c. 55, s. 22, eff. 7/4/2019.