HUD Reverse Mortgage Program Protection Act - Amends the National Housing Act with respect to the home equity conversion mortgage program for the elderly to: (1) make the program permanent; (2) remove the participant mortgage ceiling; (3) require adequate consumer education, and full disclosure to the mortgagor of all mortgage costs, including estate planning, financial advice, or other related costs; and (4) prohibit excessive referral fees.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E785)
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Housing and Community Opportunity.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line