15 U.S.C. § 1648
Reverse mortgages
United States · Title 15 — COMMERCE AND TRADE · Status: effective
Cite this
- Citation
- 15 U.S.C. § 1648, Reverse mortgages, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/441202
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Full text
In addition to the disclosures required under this subchapter, for each reverse mortgage, the creditor shall, not less than 3 days prior to consummation of the transaction, disclose to the consumer in conspicuous type a good faith estimate of the projected total cost of the mortgage to the consumer expressed as a table of annual interest rates. Each annual interest rate shall be based on a projected total future credit extension balance under a projected appreciation rate for the dwelling and a term for the mortgage. The disclosure shall include—
statements of the annual interest rates for not less than 3 projected appreciation rates and not less than 3 credit transaction periods, as determined by the Bureau, including—
In determining the projected total cost of the mortgage to be disclosed to the consumer under subsection (a), the creditor shall take into account—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Riegle Community Development and Regulatory Improvement Act of 1994House: 410–12Senate: no recorded tally
- Dodd-Frank Wall Street Reform and Consumer Protection Act