Relating to required disclosures in communications about reverse mortgages; and declaring an emergency.
Catchline/Summary:
Requires lender, or agent or affiliate of lender, in any advertisement or communication intended as inducement to apply for or enter into reverse mortgage to include summary of certain provisions of reverse mortgage contract. Requires lender, or agent or affiliate of lender, in any advertisement or communication intended as inducement to apply for or enter into reverse mortgage to include summary of certain provisions of reverse mortgage contract. Specifies persons that are exempt from requirement.
Becomes operative January 1, 2016.
Declares emergency, effective on passage.
Oregon Legislative Assembly - Public Testimony Registration Form
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HB 2532
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