A bill being deliberated in the Washington State Senate regarding a foreclosure mediation program would except reverse mortgage borrowers over the age of 61. However, this would not include slightly younger borrowers seeking a proprietary reverse mortgage within the state, and the National Reverse Mortgage Lenders Association (NRMLA) has requested that the bill be updated to encompass these borrowers.

This is according to a comment letter submitted by NRMLA to the sponsoring lawmakers and language in the proposed bill, as reviewed by HousingWire’s Reverse Mortgage Daily (RMD).

Washington state established its foreclosure mediation program details ⇒

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