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

Summary

If enacted, this bill would authorize the New Jersey Housing and Mortgage Finance Agency (HMFA) to reimburse approved providers for pre-purchase homebuyer counseling under the state's Foreclosure Mediation Assistance Program. The bill expands counseling support to help prospective homebuyers before purchase, aiming to reduce future foreclosures. Lenders and servicers may see increased counseling referrals and potential changes in borrower preparedness.