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S3546
SENATE, No. 3546
STATE OF NEW JERSEY
222nd LEGISLATURE
�
INTRODUCED FEBRUARY 19, 2026
Sponsored by:
Senator� ANTHONY M. BUCCO
District 25 (Morris and Passaic)
Senator� GORDON M. JOHNSON
District 37 (Bergen)
SYNOPSIS
���� Permits mortgage loan originators to work from remote
locations under certain circumstances.
CURRENT VERSION OF TEXT
���� As introduced.
��
An Act
concerning mortgage loan originators and supplementing
P.L.2009, c.53 (C.17:11C-51 et seq.).
����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:
���� 1.��� a.� Notwithstanding any
other law, rule, or regulation to the contrary, a mortgage loan originator or
qualified individual licensee licensed pursuant to the �New Jersey Residential
Mortgage Lending Act,� P.L.2009, c.53 (C.17:11C-51 et seq.) may perform
licensable activities at a place of residence or another remote location,
provided that the activities are in accordance with written supervisory
policies and procedures.
���� b.��� Licensable activities
from a remote location shall be permitted when:
���� (1)�� the mortgage loan
originator or qualified individual licensee has written policies and procedures
for the supervision of an employee working from a place of residence or another
remote location;
���� (2)�� access to company
platforms and customer information is in accordance with a comprehensive
written information security plan;
���� (3)�� no in-person customer
interaction occurs at a place of residence unless the residence is a licensed
location; and
���� (4)�� physical records are not
maintained at a remote location.
���� c.���� As used in this section
�remote location� means a site at which a mortgage loan originator or qualified
individual licensee conducts business other than the principal place of
business or principal office.�
���� d.��� The Commissioner of
Banking and Insurance may issue and promulgate rules and regulations, in
accordance with the "Administrative Procedure Act," P.L.1968, c.410
(C.52:14B-1 et seq.), necessary to effectuate the provisions of this act.
���� 2.��� This act shall take
effect immediately.
STATEMENT
���� This bill permits mortgage
loan originators to work from remote locations under certain circumstances.
���� Under the bill, a mortgage
loan originator or qualified individual licensee licensed pursuant to the �New
Jersey Residential Mortgage Lending Act� may perform licensable activities at a
place of residence or another remote location provided that the activities are in
accordance with written supervisory policies and procedures.
���� Licensable activities from a
remote location are permitted when:
���� (1)�� the mortgage loan
originator or qualified individual licensee has written policies and procedures
for the supervision of an employee working from a place of residence or another
remote location;
���� (2)�� access to company
platforms and customer information is in accordance with a comprehensive
written information security plan;
���� (3)�� no in-person customer
interaction occurs at a place of residence unless the residence is a licensed
location; and
���� (4)�� physical records are not
maintained at a remote location.