According to New Jersey Rev. Stat. § 17:16F-17, when the “servicing of the mortgage loan for which an escrow account has been established is sold, assigned or transferred to a purchasing servicing organization” the Initial Tax Authorization notice (ME-1) is required to be given. Additionally, NJAC 5:33-4.4 requires that “[a]n initial tax Authorization Notice (ME-1) shall be used by all mortgagees, servicing organization, or property tax processing organizations establishing or maintaining mortgage escrow accounts as the initial authorization by a mortgagor to the tax collector to send the original tax bill to the mortgagee or the mortgagee’s servicing organization…”
Consequently, the NJ Initial Tax Authorization Notice (our cx1507) is only needed when an escrow account is created for the mortgage loan. Docutech is modifying the configuration of Cx1507 to only print when the loan has an escrow account.
These changes will be effective on August 29, 2017. If you have any questions or concerns about this configuration change, please contact Client Support at 1.800.497.3584.