August 18, 2022
Lender Bulletin 2022-7:
All Reserved Loans are Property-Specific
Effected Programs: All
Effective Date: Ongoing
NJHMFA encourages all of our business partners and constituents to submit any and all documentation in an electronic format whenever possible as staff will continue to check email and review information submitted electronically.  

Attention Lenders:
LOAN RESERVATION REMINDER: New Jersey Housing and Mortgage Finance Agency (NJHMFA) program guidelines do not allow for changes to the property address after loan reservation, except to correct minor typographical errors. If there is a full property address change that occurs after the loan is reserved, the original loan will need to be cancelled. If the borrower enters a contract for a different property, a new loan will need to be reserved with current market terms and rates.
“A price guaranty is made on the basis of a Mortgage Loan application and a specific Property.” Chapter 6:1A(2).
This policy is applicable to all mortgage programs, including the Police & Fire Retirement System (PFRS), First-Time Homebuyer, Homeward Bound, HFA Advantage, and Down Payment Assistance loans.

All Lenders offering New Jersey Housing and Mortgage Finance Agency (NJHMFA) programs must adhere to the reservation policies as described in the NJHMFA Mortgage Program Policy and Procedures for Participating Lenders Guide (Seller’s Guide).

For more detailed instruction regarding loan reservations, please also refer to Chapter 6 of the Seller’s Guide, Loan Reservation Policy and Loan Reservation Pipeline Management.
“In all instances, the Participating Lender is required to utilize this loan reservation policy in an ethical and honest manner and under no circumstances can a Participating Lender utilize these procedures in any way to achieve undeserved gain for itself, its staff or customers, or cause NJHMFA to suffer unnecessary losses.” Chapter 6:1A(1).
Questions? Need Help? 

If you have questions about one of our loan products or need help with a loan in the ILRS system, please e-mail your requests to

Access Forms, Checklists, Policies, Previous Lender Bulletins and More at the Lender Resources Page:
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New Jersey Housing and Mortgage Finance Agency | 609-278-7400 |