Amends TCA Title 39, Chapter 15, Part 5; Title 45, Chapter 2, Part 12; Title 45, Chapter 20; Title 47, Chapter 30 and Title 67, Chapter 4, Part 4.
Tennessee SB2190 amends various sections of the Tennessee Code Annotated to authorize the use of a counselor approved by the Department of Financial Institutions to fulfill the requirement for independent counseling for buyers involved in reverse mortgage loans prior to closing. This bill primarily affects individuals seeking reverse mortgages and the counselors involved in the process. Key provisions include the modification of counseling requirements and related changes to reverse mortgage loan regulations.
Tennessee SB2190 amends various sections of the Tennessee Code Annotated to authorize the use of a counselor approved by the Department of Financial Institutions to fulfill the requirement for independent counseling for buyers involved in reverse mortgage loans prior to closing. This bill primarily affects individuals seeking reverse mortgages and the counselors involved in the process. Key provisions include the modification of counseling requirements and related changes to reverse mortgage loan regulations.
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