New Jersey License Law
A NJ broker who provides mortgage brokerage services in addition to real estate brokerage must:
AUse the same license for both activities
BHold a separate mortgage broker license under the NJ Residential Mortgage Lending Act from the NJDOBI✓ Correct
COnly obtain NJREC approval
DPost additional bond with the NJREC
Explanation
Mortgage brokerage in NJ requires a separate license under the Residential Mortgage Lending Act issued by the NJ Department of Banking and Insurance (DOBI). A real estate broker's license does not cover mortgage brokerage activities.
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