MD SB457 | 2021 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 20 2021 - 25% progression, died in committee
Action: 2021-01-24 - Hearing 2/16 at 1:00 p.m.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 20 2021 - 25% progression, died in committee
Action: 2021-01-24 - Hearing 2/16 at 1:00 p.m.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Requiring that a borrower of a reverse mortgage loan be at least 60 years old and occupy the dwelling that secures the reserve mortgage loan as a principal residence; requiring a certain lender or an arranger of financing to provide a prospective borrower certain documents at certain times; requiring a certain lender to provide to the borrower a certain statement by January 31 each year and a certain disclosure at certain times; etc.
Title
Commercial Law – Credit Regulation – Reverse Mortgage Loans Act – Revisions
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-01-24 | Senate | Hearing 2/16 at 1:00 p.m. |
| 2021-01-20 | Senate | First Reading Finance |
Same As/Similar To
HB1196 (Crossfiled) 2021-04-10 - Withdrawn by Sponsor
Subjects
Age
Agents and Brokers
Banks and Trust Companies
Commercial Law - Generally
Condominiums
Counselors
Credit
Death
Deeds
Disclosure
Estates and Trusts
Federal Government
Fees
Finance Companies
Foreclosure
Insurance
Interest
Liability
Liens
Loans
Medical Conditions
Mental and Behavioral Health
Mortgages
Notices
Residential Property
Revenue and Taxes
Spouses
Time
Titles
Weights and Measures
Agents and Brokers
Banks and Trust Companies
Commercial Law - Generally
Condominiums
Counselors
Credit
Death
Deeds
Disclosure
Estates and Trusts
Federal Government
Fees
Finance Companies
Foreclosure
Insurance
Interest
Liability
Liens
Loans
Medical Conditions
Mental and Behavioral Health
Mortgages
Notices
Residential Property
Revenue and Taxes
Spouses
Time
Titles
Weights and Measures
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Commercial Law | 12 | 1201 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1202 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1203 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1204 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1205 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1206 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1207 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1208 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1209 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1210 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1211 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1212 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1213 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1214 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1215 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1216 | (n/a) | See Bill Text |
| Commercial Law | 12 | 1217 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0457?ys=2021RS |
| Text | https://mgaleg.maryland.gov/2021RS/bills/sb/sb0457f.pdf |
