New Jersey 222nd Legislature Status: Introduced 1 D cosponsors

A 5389 — Exempts reverse mortgage transaction from requirement that secondary mortgage loan payments be made in equal amounts and payment periods.

Last action — REP 2RA

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed General Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the General Assembly. Introduced September 10, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 28% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

This bill exempts reverse mortgage transactions from equal payment requirements.

The bill allows reverse mortgage transactions to not follow the standard rule of equal payment amounts and periods for secondary mortgage loans. This change aims to provide flexibility in how payments can be structured.

Summary

Secondary mortgage loan payments-concerns requirements

Bill Text

  • Introduced View text Current html September 11, 2026

How this bill changes current law

1 change Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill amends 1 section(s) of the New Jersey statutes: N.J.S.A. 17:11C-78.

  • N.J.S.A. 17:11C-78

    Provide → Except for a reverse mortgage transaction as defined by 15 U.S.C. s.1602, provide

    amended

Action History

  1. REP 2RA

  2. TRANS AHO

  3. INT 1RA REF AFI

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 119 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (119)

119 members have not signed on to this bill.

Show all 119 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does A 5389 do?
Secondary mortgage loan payments-concerns requirements
Who sponsors A 5389?
A 5389 is sponsored by Stanley, Sterley S. (Democrat).
What is the current status of A 5389?
This bill has been introduced in the General Assembly. Introduced September 10, 2026. It must pass committee before a floor vote.
Where can I track A 5389?
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