3.0.0 4419 2023-01-11T13:16:46Z 2023-01-11T13:16:46Z House H HR 2010-01-12 111 hsba00 Financial Services Committee House Standing Referred to 2010-01-12T17:01:40Z 2010-01-12 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2010-01-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-01-12 Introduced in House IntroReferral 1000 9 Library of Congress S001169 Rep. Sestak, Joe [D-PA-7] Joe Sestak D PA 7 N Housing and Community Development Consumer affairs Consumer credit Housing finance and home ownership User charges and fees Housing and Community Development 00 2010-01-12 Introduced in House 2010-01-29T19:54:06Z Reverse Mortgage Elder Protection Act - Amends the Truth in Lending Act to prohibit a creditor from taking an application for a reverse mortgage unless the creditor has provided the applicant with: (1) a specified written cautionary statement before the applicant receives any counseling regarding reverse mortgages; (2) a specified written checklist before meeting with a counseling agency about reverse mortgages; and (3) a referral to a housing counseling agency for reverse mortgage counseling approved by the Department of Housing and Urban Development (HUD).

Requires a counseling agency to provide the same kind of written checklist to a consumer that seeks counseling before requesting a loan application for a reverse mortgage.

Prohibits a creditor from either accepting a final application for a reverse mortgage, or from assessing any related fees, unless the creditor has received from the consumer or the consumer's authorized representative: (1) a written certification that the consumer has received counseling regarding reverse mortgages from a HUD-approved agency; and (2) a copy of the prescribed checklist signed by the agency counselor and by the consumer.

]]> Reverse Mortgage Elder Protection Act Display Title Reverse Mortgage Elder Protection Act Official Title as Introduced To amend section 138 of the Truth in Lending Act to establish certain counseling and disclosure requirements with respect to reverse mortgages. Introduced in House IH Short Titles as Introduced Reverse Mortgage Elder Protection Act Introduced in House 2010-01-12T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4419ih/xml/BILLS-111hr4419ih.xml 2010-01-12 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.