Legislation - HB1196

Title: Commercial Law - Credit Regulation - Reverse Mortgage Loans Act - Revisions
Sponsored by: Delegate Adams
Status: In the House - Withdrawn by Sponsor
Analysis: Fiscal and Policy Note

Synopsis

Requiring that a borrower of a reverse mortgage loan be at least 60 years old and occupy the dwelling that secures the reserve mortgage loan as a principal residence; requiring a certain lender or an arranger of financing to provide a prospective borrower certain documents at certain times; requiring a certain lender to provide to the borrower a certain statement by January 31 each year and a certain disclosure at certain times; etc.

Committees

Original:: Economic Matters Click to view Recorded Media

Details

Cross-filed with: SB0457

Bill File Type: Regular

Effective Date(s): October 1, 2021

History

Legislation History
Chamber House Calendar Date 2/08/2021 Legislative Date 2/08/2021 Action First Reading Economic Matters Proceedings
Chamber House Calendar Date 2/09/2021 Legislative Date 2/09/2021 Action Hearing 3/03 at 1:30 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Commercial Law - Credit Regulation - Reverse Mortgage Loans Act - Revisions Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Economic Matters Proceedings Click to view Recorded Media
Chamber House Calendar Date 4/10/2021 Legislative Date 4/10/2021 Action Withdrawn by Sponsor Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/08/2021	2/08/2021	First Reading Economic Matters
House	2/09/2021	2/09/2021	Hearing 3/03 at 1:30 p.m.
			Text - First - Commercial Law - Credit Regulation - Reverse Mortgage Loans Act - Revisions
			Vote - House - Committee - Economic Matters	Click to view Recorded Media
House	4/10/2021	4/10/2021	Withdrawn by Sponsor

File Code

Subjects

Statutes