SB 457 Commercial Law – Credit Regulation – Reverse Mortgage Loans Act – Revisions
Maryland 2021 Regular Session
Commercial Law – Credit Regulation – Reverse Mortgage Loans Act – Revisions
SB-457
About SB-457
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.
Bill Texts
Introduced 01/21/2021
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