CAMP Success Story AB 1700 Reverse Mortgage

CAMP Success Story AB 1700 Reverse Mortgage

We have some great news to share as it relates to theAB1700 which is now in the Governor's office for signature.  Your CAMP Government Affairs team has been working with the National Reverse Mortgage Lender Association (NRMLA) to make sure that this new bill which you may remember will require seniors to wait 7 days after receiving their counseling before they can begin with their loan application.  This bill really gained traction once AARP grabbed onto it and supported it not only on the Assembly level but also with our state Senators.  We noticed along with NRMLA that there was language written into the bill which would have caused a compliance obstacle with Federal law.  Your GA Team took immediate action and teamed up with NRMLA to make sure that this compliance issued was addressed and corrected before it became an obstacle for us and would interrupt our ability to offer the reverse mortgage and still remain within federal compliance - our great efforts were successful!
 

CAMP has a strong voice with legislators and this one more example of how CAMP is working for you.