Colorado Governor Jared Polis signed legislation (House Bill 1266) into law on June 7 that provides new protections for reverse mortgage borrowers who have to vacate their properties … more New CO Law Protects Borrowers Impacted By Disasters
Legislation
NRMLA Reached Out to NY Assemblyman
NRMLA sent a letter to New York Assemblyman David I. Weprin in response to legislation (Assembly Bill 5877) that he introduced that would impact reverse mortgage companies. Among … more NRMLA Reached Out to NY Assemblyman
MA Extends Virtual Counseling For Another Year
Massachusetts Governor Maura Healy signed legislation into law this week that allows prospective reverse mortgage borrowers to be counseled by telephone and/or video through March 31, 2024. The … more MA Extends Virtual Counseling For Another Year
Utah Makes Improvements to Reverse Mortgage Law
Utah Governor Spencer Cox signed legislation (HB 94) into law that lowers the minimum borrower age for proprietary reverse mortgage borrowers from 62 to 55 and changes the … more Utah Makes Improvements to Reverse Mortgage Law
NRMLA Urges MA Lawmaker to Support Telephone/Video Counseling
NRMLA President Steve Irwin submitted a letter to the President of the Massachusetts Senate, state Senator Karen Spilka, urging her to support legislative efforts to allow borrowers to … more NRMLA Urges MA Lawmaker to Support Telephone/Video Counseling
White House Budget Forecasts Strong HECM Performance
The Biden Administration released appendices to its Fiscal Year 2024 proposed budget this week that predicted strong economic numbers for the Home Equity Conversion Mortgage program for the … more White House Budget Forecasts Strong HECM Performance
Tracking State Legislation
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House Financial Services Committee Publishes Agenda For Next Two Years
The House Financial Services Committee, chaired by Representative Patrick McHenry (R-NC), published an Authorization and Oversight Plan this week that provides a sneak peek into the areas that … more House Financial Services Committee Publishes Agenda For Next Two Years
Congressional Committee Rosters
The following committees have jurisdiction over reverse mortgages and the Home Equity Conversion Mortgage (HECM) program. U.S Senate Committee on Banking, Housing, and Urban Affairs Sen. Sherrod Brown … more Congressional Committee Rosters
New HECM Disclosure Proposed In NY Bill
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