Which department oversees the enforcement of the New Jersey Residential Mortgage Lending Act?

The New Jersey Department of Banking and Insurance is the primary regulatory body responsible for overseeing the enforcement of the New Jersey Residential Mortgage Lending Act. This department plays a crucial role in ensuring that mortgage lenders operate in compliance with state laws and regulations, protecting consumers in the process. It is also tasked with licensing lenders, monitoring industry practices, and handling consumer complaints related to mortgage lending. This direct oversight is vital to maintaining the integrity of the mortgage market in New Jersey and ensuring that lending practices remain fair and transparent.

Other departments mentioned do not hold the same regulatory authority in this specific context. For instance, the Department of Housing and Urban Development focuses on national housing policies and programs, the Department of Financial Services is more aligned with broader financial regulations, and the New Jersey Real Estate Commission primarily oversees real estate licensing and practices rather than directly enforcing mortgage lending laws. Therefore, the New Jersey Department of Banking and Insurance's specific focus on banking and insurance makes it the appropriate authority for enforcing the Residential Mortgage Lending Act.