LEGISLATIVE FISCAL ESTIMATE

ASSEMBLY, No. 5169

STATE OF NEW JERSEY

222nd LEGISLATURE

 

DATED: JUNE 25, 2026

 

 

SUMMARY

 

Synopsis:

Authorizes HMFA to make certain reimbursements to support pre-purchase homebuyer counseling under Foreclosure Mediation Assistance Program.

Type of Impact:

Annual State expenditure increase.

Agencies Affected:

New Jersey Housing and Mortgage Finance Agency.

 

 

Office of Legislative Services Estimate

Annual Fiscal Impact

 

 

 

State Expenditure Increase

Indeterminate

 

 

·         The Office of Legislative Services (OLS) concludes that the bill would lead to an indeterminate increase in annual State expenditures by expanding the scope of the existing Foreclosure Mediation Assistance Program to include pre-purchase homebuyer counseling, which would increase annual program costs.

 

 

BILL DESCRIPTION

 

      This bill would add pre-purchase homebuyer counseling services to the existing foreclosure counseling program under the Foreclosure Mediation Assistance Program and authorizes the New Jersey Housing and Mortgage Finance Agency to provide reimbursements to counselors providing pre-purchase homebuyer counseling.

 

 

FISCAL ANALYSIS

 

EXECUTIVE BRANCH

 

      None received.

OFFICE OF LEGISLATIVE SERVICES

 

      The OLS concludes that the bill would lead to an indeterminate increase in annual State expenditures because expanding the scope of the existing Foreclosure Mediation Assistance Program to include pre-purchase homebuyer counseling would increase annual program costs.  The number of individuals who would take advantage of the new counseling service and the amounts paid to counselors by the New Jersey Housing and Mortgage Finance Agency cannot be anticipated and so the OLS is precluded from estimating the extent of the annual State cost increase.

 

Section:

Local Government

Analyst:

Grace Ahlin
Associate Fiscal Analyst

Approved:

Thomas Koenig

Legislative Budget and Finance Officer

 

This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.

 

This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).