General World News

MBA advocates for remote reverse mortgage counseling in Mass.

The Mortgage Bankers Association (MBA)’s policy advocacy group, the Mortgage Action Alliance (MAA), is urging its members in the state of Massachusetts to support the continued use of remote telephone and video counseling for reverse mortgages in the state following the lapse of an exemption allowing for remote counseling.

“The provision in state law which permitted these forms of consumer counseling on reverse mortgage loans expired on March 31st via sunset,” the call explained. “Importantly, language has been introduced to emergency funding legislation that would restore these forms of counseling and make this flexibility permanent. Importantly, that language was details ⇒

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