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Second mortgage lending

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Second mortgage lending
Loans secured by real estate previously pledged in a first mortgage.


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B, C and D lending, which evolved from second mortgage lending, does not generally involve the establishment or maintenance of escrows.
I would recommend to this committee that during the course of their deliberations they solicit information from creditors active in second mortgage lending to determine how the proposed legislation might affect the availability of credit.
There has also been some discussion about parity between first and second mortgage lending in New Jersey, requiring only one license for first and second mortgage lending.
 
 
 
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