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Legislation

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Pawlenty Signs New Reverse Mortgage Consumer Protections into Law 

May 20, 2010By

Minnesota Governor Tim Pawlenty signed into law a bill to implement new reverse mortgage consumer protections on Wednesday. SF 2430 includes a reverse mortgage provision which implements new counseling guidelines, a 7-day “cooling off” period and restricts the cross-sale of annuities and long-term care insurance said the National Reverse Mortgage Lenders Association in an alert to members. […]