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Legislation
Legislative Updates: THUD Appropriations and Transitional Licensing
Thus Appropriations The Appropriations Committee in the House of Representatives passed the Fiscal Year 2017 Transportation, Housing and Urban Development, and Related Agencies (THUD) appropriations bill this week that includes … more Legislative Updates: THUD Appropriations and Transitional Licensing
State Legislative Update
The Maryland General Assembly recently adjourned without passing a bill that would have required reverse mortgage lenders to establish escrow accounts for the payment of property taxes and … more State Legislative Update
Golding to Congress: HECM Reforms Working
Edward L. Golding, Principal Deputy Assistant Secretary for the Office of Housing at HUD, testified before Congress that extensive reforms to the HECM program over the past two … more Golding to Congress: HECM Reforms Working
MA Regulator Finalizes Flood Insurance Guidelines
The Massachusetts Division of Banks published a final regulation this week that prohibits creditors from requiring residential property owners to buy flood insurance in an amount that exceeds … more MA Regulator Finalizes Flood Insurance Guidelines
Illinois RM Bill implements Cooling Off Period and Educational Documents
Illinois Governor Bruce Rauner (R ) signed legislation into law that would implement a 3-day “cooling-off” period, impose restrictions on the cross-selling of insurance products, create new borrower … more Illinois RM Bill implements Cooling Off Period and Educational Documents
Rhode Island Amends Reverse Mortgage StatuteMembers Only
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Utah Enacts Reverse Mortgage Legislation
The Utah state legislature recently passed the Utah Reverse Mortgage Act, which was signed into law on March 27 by Governor Gary Herbert. The bill, S.B. 120, includes … more Utah Enacts Reverse Mortgage Legislation
F2F Counseling Remains In Effect in MAMembers Only
The Massachusetts legislature this week failed to restore a two-year delay for mandatory face-to-face counseling.
State of Georgia Bans Two Lenders for Employing Felons
The Georgia Department of Banking and Finance barred lenders from ever again applying for mortgage banker or mortgage broker licenses. Find out why.