The New Jersey Home Ownership Security Act of 2002

PHILIP D. MURPHY Governor TAHESHA L. WAY Lt. Governor State of New Jersey DEPARTMENT OF BANKING AND INSURANCE OFFICE OF THE COMMISSIONER PO BOX 325 TRENTON, NJ 08625-0325 TEL (609) 633-7667 JUSTIN ZIMMERMAN Commissioner Visit us on the Web at dobi.nj.gov New Jersey is an Equal Opportunity Employer • Printed on Recycled Paper and Recyclable BULLETIN NO. 26-01 TO: ALL INTERESTED PARTIES FROM: JUSTIN ZIMMERMAN, COMMISSIONER SUBJECT: THE NEW JERSEY HOME OWNERSHIP SECURITY ACT OF 2002 The New Jersey Department of Banking and Insurance (“Department”) is issuing this Bulletin in accordance with the New Jersey Home Ownership Security Act of 2002 (“the Act”), N.J.S.A. 46:10B-22 to -35. This Bulletin addresses the annual review required in the Act’s definition of a “high cost home loan,” set forth at N.J.S.A. 46:10B-24. The Act, effective on November 27, 2003, requires an annual review and, if necessary, adjustment of the maximum principal amount that will, subject to the other triggering provisions in the Act, result in a loan being considered a “high cost home loan.” This adjustment is based on the last published increase in the housing component of the national Consumer Price Index, New York – Northern New Jersey Region (“Index”). The maximum principal amount as specified in the Act upon enactment was $350,000. The adjustment for the year 2025 was contained in Bulletin No. 25-02 and raised the maximum amount to $617,603. The Index is compiled by the United States Department of Labor, Bureau of Labor Statistics. It is released on the Bureau’s website at https://www.bls.gov/regions/northeast/newsrelease/consumerpriceindex_newyork.htm. The Index represents a measure of the average change over time in housing prices. The December 18, 2025 published data in the Index indicated an increase between October 2003 and November 2025 of 84.181%. When applied to the $350,000 amount specified in the Act, this yields an upward adjustment of $294,634. Accordingly, as required by N.J.S.A. 46:10B-24, the Department is adjusting the definition of “high-cost home loan” to provide that the maximum principal amount of a loan that may be considered a high-cost home loan will be $644,634. The amount of $644,634 shall be effective for all completed applications on loans that may be subject to the Act received by the lender on or after January 1, 2026. Page 2 of 2 The Department will annually review this number, using the same methodology and effective date in future years, and adjust this number as necessary in accordance with the provisions of the Act. January 16, 2026 Date Justin Zimmerman Commissioner jd 2026 HOSA Bulletin/bulletins