- Stage
- Became law
- Started in
- Assembly
- Sponsor
- 1
- Latest action
- Sep 27, 2012
What it does
Existing law defines and regulates reverse mortgage loans and prohibits a reverse mortgage loan application from being taken by a lender unless the loan applicant has been provided a specified notice advising the applicant about counseling prior to obtaining the reverse mortgage loan. Existing law requires a lender to provide a prospective borrower a list of not fewer than 10 housing counseling agencies approved by the United States Department of Housing and Community Development to engage in reverse mortgage counseling, as specified, and prohibits a lender from accepting a final and complete application for a reverse mortgage or assessing any fees upon a prospective borrower without…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- Bonilla
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.