NRMLA Submits Letters of Support

NRMLA Submits Letters of Support

House Bill 7073 and Senate Bill 7074 would amend existing law by basing the state’s documentary stamp tax on the principal limit instead of the maximum claim amount for people seeking reverse mortgages.

What’s next: NRMLA requested that both bills be amended so that the proposed changes apply to all reverse mortgages and not just Home Equity Conversion Mortgages.

What they’re saying: “NRMLA applauds the Bills’ sponsors for introducing critically important legislation that will benefit Florida seniors who obtain reverse mortgages,” says NRMLA’s letter.

  • “For far too long, Florida reverse mortgage borrowers have been forced to pay documentary stamp taxes on the stated mortgage amount rather than the principal limit. That is why this Bill is so critically important for Florida reverse mortgage borrowers.”
  • To read the letters, login to the Comment Letters section of

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.