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H.R. 5758 - Reverse Mortgage Proceeds Protection Act

Housing. 110th Congress (2007-2008) View bill details
Sponsor:
Summary:
To prohibit authorized lenders of home equity conversion mortgages from requiring seniors to purchase an annuity with the proceeds of a reverse mortgage, and to provide other consumer protections to reverse mortgage borrowers, and for other purposes. (by CRS) 
Status:
The bill has been introduced. 
There have been no votes on this bill.

Reverse Mortgage Proceeds Protection Act

H.R. 5758 — 110th Congress (2007–2008)

Summary
To prohibit authorized lenders of home equity conversion mortgages from requiring seniors to purchase an annuity with the proceeds of a reverse mortgage, and to provide other consumer protections to reverse mortgage borrowers, and for other purposes. (by CRS)
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At OpenCongress
Title
To prohibit authorized lenders of home equity conversion mortgages from requiring seniors to purchase an annuity with the proceeds of a reverse mortgage, and to provide other consumer protections to reverse mortgage borrowers, and for other purposes.
Other Titles
  • Reverse Mortgage Proceeds Protection Act
Sponsor
Barbara Lee
Co-Sponsors
    Subjects
    • Housing
    • Administrative procedure
    • Aged
    • Annuities
    • Business
    • Consumer protection
    • Consumers
    • Counseling
    • Department of Housing and Urban Development
    • Executive departments
    • Finance
    • Financial services
    • Health policy
    • Home equity conversion
    • Housing for the aged
    • Insurance premiums
    • Law
    • Long-term care insurance
    • Marketing
    • Medical care
    • Pensions
    • Social services
    Related Bills
    Major Actions
    Introduced4/10/2008
    Referred to Committee
    Bill History

    There have been no votes on this bill.

    ActionDateDescription
    Introduced4/10/2008
    4/10/2008Referred to the House Committee on Financial Services.
    NumberSponsorDate OfferedStatus

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    Includes reported contributions to congressional campaigns of House members in office during the 110th U.S. Congress, from interest groups invested in the vote according to MapLight, January 1, 2007 – December 31, 2008.
    Contributions data source: OpenSecrets.org

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    		Lynn WoolseyDCA-6$0$0
    		David WuDOR-1$0$0
    		Albert WynnDMD-4$0$0
    		John YarmuthDKY-3$0$0
    		C. W. "Bill" YoungRFL-10$0$0
    		Don YoungRAK$0$0

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