No reverse mortgage loan commitment may be made by a lender unless the loan applicant attests in writing that the applicant received from the lender at the time of initial inquiry a statement regarding the advisability and availability of independent information and counseling services on reverse mortgages. Such statement may be in a form developed by the lender or the division of finance.
Mo. Rev. Stat. § 443.912
Statement regarding counseling services on reverse mortgages
Known as the Missouri Secure and Fair Enforcement for Mortgage Licensing Act
The act spans §§ 443–443 (128 sections).
Effective: 28 Aug 1995; (L. 1995 H.B. 63, et al. § 5)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.