- Commercial Law – Credit Regulation – Reverse Mortgage Loans Act – Revisions
- Sponsored by
- Senator Feldman
- In the Senate - Hearing 2/16 at 1:00 p.m.
Requiring that a borrower of a reverse mortgage loan be at least 60 years old and occupy the dwelling that secures the reserve mortgage loan as a principal residence; requiring a certain lender or an arranger of financing to provide a prospective borrower certain documents at certain times; requiring a certain lender to provide to the borrower a certain statement by January 31 each year and a certain disclosure at certain times; etc.
Bill File Type: Regular
Effective Date(s): October 1, 2021
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Last Updated: 1/24/2021 5:08 PM