Category: Legislation

Senator Claire McCaskill voiced her concerns over issues related to reverse mortgages at a Senate Proceeding last week.  She estimates that there will be 200,000 new reverse mortgages this year and believes it has the potential to become a huge liability to the American taxpayer if more guidelines aren’t put in place.  One area she […]

We’ve got some good news on the reverse mortgage legislation front.  Earlier this week Washington state Governor Chris Gregoire signed into law a bill which will allow non bank lenders to originate reverse mortgages. HB 1311 was introduced earlier this year to lift the restrictions from SB 6471 which effectively banned non-bank lenders who are […]