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 Act With “Cooling Off” Period
The Massachusetts legislature this week failed to restore a two-year delay for mandatory face-to-face counseling.
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’ 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.