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Original
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Opposite
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Review in
Original Chamber
Passed Both
Chambers
Conf. Cmte
(if necessary)
To Governor
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
Committee Testimony
Details
Cross-filed with: HB1196
Bill File Type: Regular
Effective Date(s): October 1, 2021
Legislation History
Chamber
Senate
Calendar Date
1/20/2021
Legislative Date
1/20/2021
Action
First Reading Finance
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 Proceedings
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.
Age
Last Updated: 4/1/2021 6:14 PM
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