S.2490 - Reverse Mortgage Proceeds Protection Act

A bill to prohibit authorized lenders of home equity conversion mortgages from requiring seniors to purchase an annuity with the proceeds of a reverse mortgage, and to provide other consumer protections to reverse mortgage borrowers. view all titles (2)

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  • Official: A bill to prohibit authorized lenders of home equity conversion mortgages from requiring seniors to purchase an annuity with the proceeds of a reverse mortgage, and to provide other consumer protections to reverse mortgage borrowers. as introduced.
  • Short: Reverse Mortgage Proceeds Protection Act as introduced.

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12/13/07
Bill Action: Introduced: S. 2490: A bill to prohibit authorized ...

Claire McCaskill [D-MO] introduced S. 2490: A bill to prohibit authorized lenders of home equity conversion mortgages from requiring seniors to purchase an annuity with the proceeds of a reverse mortgage, and to provide other consumer ...

Source: Active Legislation -- Tracked by GovTrack.us
12/13/07
Bill Introduced: S.2490 A bill to prohibit authorized lenders of ...

A bill to prohibit authorized lenders of home equity conversion mortgages from requiring seniors to purchase an annuity with the proceeds of a reverse mortgage, and to provide other consumer protections to reverse mortgage borrowers.

Source: Open Congress : Senate Banking, Housing,...
12/13/07
S. 2490, A bill to prohibit authorized lenders of home equity ...

S. 2490 would prohibit authorized lenders of home equity conversion mortgages from requiring seniors to purchase an annuity with the proceeds of a reverse mortgage, and it would provide other consumer protections to reverse mortgage ...

Source: washingtonwatch.com - Welcome to washingtonwatc...
02/05/08
New Effort To Limit Annuities | Reverse Mortgage Guide

S. 2490 — the Reverse Mortgage Proceeds Protection Act — was introduced in December by Sen Claire McCaskill(D-MO). The bill would get to an issue we have repeatedly noted — the use of reverse mortgages to ultimately fund high-cost ...

Source: Reverse Mortgage Guide
02/05/08
New Effort To Limit Annuities

S. 2490 — the Reverse Mortgage Proceeds Protection Act — was introduced in December by Sen Claire McCaskill(D-MO). The bill would get to an issue we hav… commercial loans mortgage rates bankruptcy loans cash loans personal loan car loan ...

Source: Loan News
04/11/08
HECM Protections Stall On Capitol Hill

... in Washington — has had so little success with reverse mortgage legislation. Provisions to lower reverse mortgage costs and to enhance borrower protections are routinely lost in the legislative process. As an example, S. 2490: [...]

Source: Hipotecas inversas de investigación
04/25/08
Senator Wants Look At Reverse Mortgage Claims

Sen Claire McCaskill(D-MO), the author of S. 2490 — the Reverse Mortgage Proceeds Protection Act — a bill that would end the “marketing or sale of an annuity as a condition of obtaining any home equity conversion mortgage” — has as

Source: Reverse Mortgage Guide
04/26/08
Reverse Your Mortgage: FHA MODERNIZATION BILL UPDATE

April 10, 2008 Senator Claire McCaskill (D-MO) was successful at getting her reverse mortgage bill (S. 2490) added to S. 3221. The Reverse Mortgage Protection Proceeds Act would prohibit lenders from requiring the purchase of an annuity ...

Source: Reverse Your Mortgage
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