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 … more NRMLA Submits Letters of Support
Legislation
Tracking State Legislation
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Association Responds to NJ Bill Requiring Face-to-Face Counseling
NRMLA, through its State and Local Issues Committee, sent a letter to New Jersey state Senator Shirley K. Turner that addressed concerns over a proposed bill that she … more Association Responds to NJ Bill Requiring Face-to-Face Counseling
An Overview of Reverse Mortgage History
NRMLA has created the following infographics that highlight key moments in the history of reverse mortgages and the FHA Home Equity Conversion Mortgage program. Please click on the … more An Overview of Reverse Mortgage History
Senate Special Committee on Aging Holds Hearing on AI Scams
The U.S. Senate Special Committee on Aging held a hearing that examined how Artificial Intelligence (AI) can be utilized by scammers. During the hearing, Committee Chairman Bob Casey … more Senate Special Committee on Aging Holds Hearing on AI Scams
New CO Law Protects Borrowers Impacted By Disasters
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
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