s 8 48162 1197608400 false 1197608400 2490 429 110 412243

12/14/2007--Introduced.<br/>Reverse Mortgage Proceeds Protection Act - Amends the National Housing Act of 1937 to modify the eligibility criteria for insurance of home equity conversion mortgages (reverse mortgages) of elderly home owners. Excludes from the third party adequate counseling requirement counseling by a reverse mortgage lender, servicer or investor, or an entity engaged in the sale of annuities, investments, long-term care insurance, or any other type of financial or insurance product. Repeals the waiver of up-front insurance premiums for mortgages to fund long-term care insurance. Authorizes the Secretary of Housing and Urban Development (HUD) to use a portion of reverse mortgage insurance premiums to fund mandatory counseling and disclosure activities, including counseling for homeowners who elect not to take out a home equity conversion mortgage. Directs the Secretary to promulgate regulations to protect elderly homeowners from the marketing of financial and insurance products not in their interest, including the marketing or sale of an annuity as a precondition to obtaining a home equity conversion mortgage.<br/>

1197608400 2007-12-14 Fri Nov 07 17:28:16 -0600 2008 introduced 48162 'bill':2 'home':8 'author':5 'borrow':35 'consum':30 'equiti':9 'lender':6 'provid':28 'requir':13 'revers':24,33 'senior':14 'annuiti':18 'convers':10 'mortgag':11,25,34 'proceed':21 'protect':31 'purchas':16 'prohibit':4 55756 false official introduced 48162 'act':5 'revers':1 'mortgag':2 'proceed':3 'protect':4 56816 false short introduced 48162 1197608400 Fri Dec 14 00:00:00 -0600 2007 140645 M001170 1953-07-24 9344 717 Hart Senate Office Building http://mccaskill.senate.gov/contact/ 202-228-6326 Claire 'd':4 'mo':5 'sen':1 'clair':2,6,8 'mccaskil':3,7,9 F 412243 McCaskill Claire_McCaskill Sen. Claire McCaskill [D, MO] 4448 N00027694 11830 Democrat 202-224-6154 MO Claire McCaskill 3.28333333333333 http://mccaskill.senate.gov/ C000174 1947-01-23 3116 513 Hart Senate Office Building http://carper.senate.gov/contact/ 202-228-2190 Thomas 'd':4 'de':5 'sen':1 'thoma':2,6,8 'carper':3,7,9 M 300019 Carper Thomas_Carper Richard Sen. Thomas Carper [D, DE] 1259 N00012508 7252 Democrat 202-224-2441 Presbyterian DE Tom Thomas Carper 3.41176470588235 http://carper.senate.gov K000305 1935-02-07 2413 330 Hart Senate Office Building http://kohl.senate.gov/contact.cfm 202-224-9787 Herbert 'd':4 'wi':5 'sen':1 'herb':8 'kohl':3,7,10 'herbert':2,6,9 M 300061 Kohl Herb_Kohl H. Sen. Herbert Kohl [D, WI] 1241 Herb N00004309 10102 Democrat 202-224-5653 Jewish WI Herb Herbert Kohl 2.91428571428571 http://kohl.senate.gov/ introduced 48162 1197608400 Fri Dec 14 00:00:00 -0600 2007 140645 action 48162 1197608400 Fri Dec 14 00:00:00 -0600 2007 140646 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.