Hello Friends, I am trying to get some help from someone in NJ or who has the NJ mortgage disclosures knowledge to help me figure out if a checklist requirement is out of date or still required and if it the disclosure is still required if you would have an example of one for me to view or have.
The NJ trust funds disclosure is supposedly listed for a construction mortgage or prepaid escrows and fees or something like that from what the older compliance checklist states for NJ residential mortgage disclosures. Can someone comment or help me out or point me in the right direction on this one, I always though trusts were a totally different type of loan with requirements that go above and beyond most normal secondary market residential mortgage loans, but someone is telling me that this NJ trust funds disclosure applies to construction loans? Help Please.