The New Jersey Home Ownership Security Act of 2002 (the "Act") provides for annual review and adjustment to the maximum principal amount of a loan that may be subject to the Act.  For 2007, only loans with principal loan amounts not exceeding $400,001.50 are subject to the Act.  For 2008, the maximum principal amount of a loan that may be subject to the Act has been increased to $411,777.45.  Loans with principal amounts exceeding that figure will not be subject to the Act's provisions.  The revised amount is effective for all applications received by a lender on or after January 1, 2008.  To view a copy of the New Jersey Department of Banking and Insurance Bulletin 07-21, click here.  Please contact the DocMagic Compliance Department if you have any questions or comments.