Tom Hunt will be retiring as Assistant Director, Banking Division, at the Department of Banking and Insurance after almost 30 years of government service in New Jersey. Tom has been a key player in the Department’s supervision and regulation of mortgage bankers and brokers and worked closely with us in drafting the amendments to RMLA that included changes in the allowable fees and charges that eliminated the use of “discount points’ to describe “points” and added transitional licensing (a/k/a ‘”temporary authority”) as one of the first States to do so.

Tom has also been Chairman of the Department's Residential Mortgage and Consumer Finance Advisory Board that I am privileged to sit on. He has kept the Board focused and helped to make our Board more productive in achieving recommendations beneficial to both the Department and Industry. It is an example of how beneficial a private sector and public “partnership” can be.

Tom intends to stay active in the private sector and will be a resource for the MBANJ in dealing with both regulatory and legislative matters on behalf of our members. I look forward to continuing to work with Tom in this regard.

I look forward as well to our continuing relationship with the Commissioner of Banking and Insurance, Marlene Caride, Richard Mumford, Acting Banking Division Director and other Division personnel.