SENATE COMMERCE COMMITTEE

STATEMENT TO

SENATE, No. 3546

STATE OF NEW JERSEY

DATED:  OCTOBER 5, 2026

      The Senate Commerce Committee reports favorably Senate Bill No. 3546.

      This bill permits mortgage loan originators to work from remote locations under certain circumstances.

      Under the bill, a mortgage loan originator or qualified individual licensee licensed pursuant to the “New Jersey Residential Mortgage Lending Act” may perform licensable activities at a place of residence or another remote location provided that the activities are in accordance with written supervisory policies and procedures.

      Licensable activities from a remote location are permitted when:

      (1)  the mortgage loan originator or qualified individual licensee has written policies and procedures for the supervision of an employee working from a place of residence or another remote location;

      (2)  access to company platforms and customer information is in accordance with a comprehensive written information security plan;

      (3)  no in-person customer interaction occurs at a place of residence unless the residence is a licensed location; and

      (4)  physical records are not maintained at a remote location.