Finance
In NJ, a lender who services a mortgage and fails to properly credit a borrower's payment on the day received may violate:
AThe NJ Landlord-Tenant Act
BRESPA's mortgage servicing rules (Regulation X) and potentially NJ's Mortgage Servicers Licensing Act✓ Correct
CNJREC regulations
DOnly the individual loan agreement
Explanation
RESPA's Regulation X requires mortgage servicers to credit payments as of the date received. Failure to do so can result in improper late fees and RESPA violations, as well as violations of NJ's mortgage servicer licensing standards.
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