Massachusetts Governor Charlie Baker signed a supplemental spending bill that reinstates video and telephone counseling for reverse mortgage borrowers until July 15, 2022. The Massachusetts Division of Banks published an Industry Reminder confirming these temporary changes.
In-person counseling resumed in Massachusetts on December 15, which complicated borrowers’ ability to be counseled given the limited number of counselors who are willing to meet in-person, especially after the onset of the Omicron variant.
NRMLA and our members in Massachusetts will continue advocating for legislation that allows for video/telephone counseling on a permanent basis.