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Bill > S4888
NJ S4888
NJ S4888Permits mortgage loan originators to work from remote locations under certain circumstances.
summary
Introduced
11/20/2025
11/20/2025
In Committee
11/20/2025
11/20/2025
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
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.
AI Summary
This bill allows mortgage loan originators (MLOs) and qualified individual licensees under the New Jersey Residential Mortgage Lending Act to perform their professional activities from home or other remote locations, subject to specific conditions. These conditions include having written supervisory policies for remote employees, maintaining a comprehensive information security plan to protect company platforms and customer data, avoiding in-person customer interactions at a residential location unless that residence is a licensed business site, and ensuring that physical records are not stored at the remote location. The bill defines a "remote location" as any business site other than the principal place of business or principal office. The Commissioner of Banking and Insurance is authorized to create regulations to implement the bill's provisions, and the legislation will take effect immediately upon enactment. This bill reflects the growing trend of remote work and aims to provide flexibility for mortgage loan professionals while maintaining professional standards and data security.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Labor Committee (on 11/20/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S4888 |
| BillText | https://pub.njleg.gov/Bills/2024/S5000/4888_I1.HTM |
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