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S02758 Summary:
BILL NO | S02758A |
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SAME AS | SAME AS A07589 |
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SPONSOR | SERINO |
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COSPNSR | |
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MLTSPNSR | |
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Amd §§280 & 280-a, RP L | |
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Adds new conditions on authorized lenders of reverse mortgages including: delivery of a plain language notice, providing the borrower with a reverse mortgage worksheet guide and counseling, and a lapse of seven days between the reverse mortgage counseling and acceptance of the borrower's final application. |