Effected Programs:  Police and Firemen’s Retirement System Mortgage Program

Effective Date: Immediately

The purpose of this bulletin is to remind Participating Lenders of the PFRS loan process change that was previously issued in the Lender Bulletin 2023-21 on November 28, 2023 related to the Electronic Delivery of PFRS Loans. This is not a change to the guidelines outlined in the previously issued bulletins, however, we kindly request that Participating Lenders review the policies and adhere to the guidelines. 

Post-closing staff from all lenders should attend training on our new system. If you have not attended a recent training on our new system, or if you would like additional training support, please use the link below to register for our upcoming training session specifically for PFRS Loan Package delivery.

PFRS Loan Delivery

Participating Lenders are required to deliver the entire closed loan package electronically via the Agency’s new Lender Portal. Do not upload the PFRS loan to the Meta Worx System. Lenders are also required to deliver the original recorded collateral documents and checks to NJHMFA via FedEx/UPS or overnight mail as a part of the purchase process.

Please ensure that all closed PFRS Loans uploaded into the new Lender Portal adhere to the requirements outlined in the Seller’s Guide and the new Lender Submission Checklist - PFRS available on the Lender Resource Site. Using the Checklist as a guide, be sure to place only the documents listed under each category on the checklist into their corresponding container on the portal. Misplacement of documents will delay the review. Incomplete or poorly uploaded closing packages will result in the loan status of “Submission Incomplete” and will require the lender to address deficiencies outlined in the Notes section of the portal. Additionally, once the closed PFRS loan file has been uploaded into the Lender Portal, lenders are required to manage the pipeline and review the Lender Portal for loan status updates once the file is in review. Please ensure that PFRS loans submitted to the Agency are completed submissions, as incomplete PFRS file submissions will create delays and backlog.

To attend a training session regarding the PFRS loan process changes please register below.

January 18, 2024 at 10:30am - Register

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 SFLenders@njhmfa.gov.

Access Forms, Checklists, Policies, Previous Lender Bulletins, and More at the Lender Resources Page: www.njhousing.gov/lenders/lenderportal