17:10B-2 - Prohibitions relative to loan brokers - New Jersey Statutes

17:10B-2.    Prohibitions relative to loan brokers 
     2.   No loan broker shall:

    a.   Assess, collect or hold an advance fee, directly or indirectly, from or on behalf of a borrower to provide services as a loan broker; 

    b.   Make or use any false or misleading representations or omit any material fact in the offer or sale of the services of a loan broker or lender, whether real or purported; 

    c.   Engage, directly or indirectly, in any act that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a loan broker or lender, whether real or purported, notwithstanding the absence of reliance by the borrower; or 

    d.   Make any false or deceptive representation to the department or conceal a material fact from the department. 

    L.1992,c.66,s.2.