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
State / Local
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
Tracking State Legislation
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New HECM Disclosure Proposed In NY Bill
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New York Passes Foreclosure Abuse Prevention Act
By Weiner Brodsky Kider On December 30, New York Governor Kathy Hochul signed Assembly Bill 7737B, which will disallow lenders and servicers conducting business in New York from … more New York Passes Foreclosure Abuse Prevention Act
Telephone/Video Counseling Extended In Massachusetts
Massachusetts Lt. Governor Karen Polito signed legislation into law last weekend that reinstates telephone/video counseling through March 31, 2023. The last extension expired on July 15. NRMLA extends … more Telephone/Video Counseling Extended In Massachusetts
Telephone/Video Counseling Extended in Massachusetts
Massachusetts Governor Charlie Baker signed a supplemental spending bill that reinstates video and telephone counseling for reverse mortgage borrowers until July 15, 2022. The Massachusetts Division of Banks … more Telephone/Video Counseling Extended in Massachusetts
NRMLA Submits Letter to PA Lawmakers
NRMLA sent a letter to 18 lawmakers in Pennsylvania who have co-sponsored legislation (House Bill 2316) that would implement new counseling requirements. While NRMLA is generally supportive of … more NRMLA Submits Letter to PA Lawmakers