New Jersey’s law changed N.J. Stat. Ann. § 17:11C-74(24)(a) & (b) and (c)(3) & (c)(6) to effectively differentiate a “discount point” from a “broker fee” by holding that a “discount point” is charged by a lender, while a “broker fee” is charged by a broker. As a result of this change, we have modified the language on Cx17071 to replace “discount points” with “broker fees”. The sentence now reads: “The amount of broker fees payable to us for our services is:”.
This change will be in effect on November 22, 2018. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.