New Jersey 222nd Legislature Status: Introduced Bipartisan · 2 D · 1 R cosponsors

S 1420 — 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 Senate
  4. 4
    Passed General Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced January 13, 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

Advancing 48% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 3 sponsors

    2 primary, 1 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (2 D · 1 R) — cross-party backing.

  • Cleared a recorded vote

    Passed 3 recorded votes 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

The bill exempts reverse mortgage transactions from equal payment requirements for secondary loans.

This legislation allows for reverse mortgage transactions to have flexible payment amounts and periods, diverging from the standard equal payment requirement for secondary mortgage loans. By doing this, it aims to accommodate the unique financial situations of reverse mortgage borrowers.

Summary

Secondary mortgage loan payments-concerns requirements

Bill Text

  • Introduced View text Current html December 30, 2025

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. R/A REF AHO

  3. PS

  4. REP 2RS

  5. INT 1RS REF SCM

Sponsors

Sponsorship breakdown

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2 sponsors · 1 co-sponsors · 117 not signed on

Sponsors (2)

Co-sponsors (1)

Not signed on (117)

117 members have not signed on to this bill.

Show all 117 →

"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

Floor vote

Passed 35 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Republican 13002
Democrat 22003
Total 35005
% of votes cast 88%0%0%13%
How each member voted (40)
Member Party Vote
Beach, James Democrat Yea
Burgess, Renee C. Democrat Yea
Burzichelli, John J. Democrat Yea
Cruz-Perez, Nilsa I. Democrat Not Voting
Cryan, Joseph P. Democrat Yea
Diegnan Jr., Patrick J. Democrat Yea
Gopal, Vin Democrat Yea
Greenstein, Linda R. Democrat Yea
Johnson, Gordon M. Democrat Yea
Lagana, Joseph A. Democrat Yea
McKeon, John F. Democrat Yea
McKnight, Angela V. Democrat Yea
Moriarty, Paul D. Democrat Not Voting
Mukherji, Raj Democrat Yea
Ruiz, M. Teresa Democrat Yea
Sarlo, Paul A. Democrat Yea
Scutari, Nicholas P. Democrat Yea
Singleton, Troy Democrat Yea
Smith, Bob Democrat Yea
Stack, Brian P. Democrat Yea
Timberlake, Britnee N. Democrat Yea
Turner, Shirley K. Democrat Yea
Vitale, Joseph F. Democrat Yea
Wimberly, Benjie E. Democrat Yea
Zwicker, Andrew Democrat Not Voting
Amato Jr., Carmen F. Republican Yea
Bramnick, Jon M. Republican Yea
Bucco, Anthony M. Republican Yea
Corrado, Kristin M. Republican Yea
Henry, Owen Republican Not Voting
Holzapfel, James W. Republican Yea
O'Scanlon Jr., Declan J. Republican Not Voting
Pennacchio, Joseph Republican Yea
Polistina, Vincent J. Republican Yea
Schepisi, Holly T. Republican Yea
Singer, Robert W. Republican Yea
Space, Parker Republican Yea
Steinhardt, Douglas J. Republican Yea
Testa Jr., Michael L. Republican Yea
Tiver, Latham Republican Yea

Official roll call →

Subjects

finance 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 S 1420 do?
Secondary mortgage loan payments-concerns requirements
Who sponsors S 1420?
S 1420 is sponsored by Lagana, Joseph A. (Democrat), Singer, Robert W. (Republican), and Johnson, Gordon M. (Democrat).
What is the current status of S 1420?
This bill has been introduced in the Senate. Introduced January 13, 2026. It must pass committee before a floor vote.
Where can I track S 1420?
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