Legislation

Title: Commercial Law – Credit Regulation – Reverse Mortgage Loans Act – Revisions
Sponsored by: Senator Feldman
Status: In the Senate - Hearing 2/16 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

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.

Committees

Original:: Finance Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB1196

Bill File Type: Regular

Effective Date(s): October 1, 2021

History

Legislation History
Chamber Senate Calendar Date 1/20/2021 Legislative Date 1/20/2021 Action First Reading Finance Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Commercial Law – Credit Regulation – Reverse Mortgage Loans Act – Revisions Proceedings
Chamber Senate Calendar Date 1/24/2021 Legislative Date 1/24/2021 Action Hearing 2/16 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	1/20/2021	1/20/2021	First Reading Finance
			Text - First - Commercial Law – Credit Regulation – Reverse Mortgage Loans Act – Revisions
Senate	1/24/2021	1/24/2021	Hearing 2/16 at 1:00 p.m.

File Code

Subjects

Statutes