The Massachusetts legislature this week failed to restore a two-year delay for mandatory face-to-face counseling.
Legislation
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.
California Governor Approves Reverse Mortgage Consumer Protection Bill
California Gov. Jerry Brown signed a new consumer protection bill that imposes a 7-day “cooling off” period between the time a borrower is counseled and the application begins.
Massachusetts In-Person Counseling Requirements
Massachusetts’ Division of Banks confirmed with NRMLA’s outside legal counsel that those seniors who received counseling on or before July 31, do not have to be re-counseled in-person.