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Committee reports bill requiring 16‑point font for reverse mortgage disclosures and licensing for branch managers
Summary
House Bill 1882, which would require 16‑point font for reverse mortgage disclosures and require branch managers to be licensed as mortgage originators, was reported by the Commerce Conference Committee after members flagged drafting inconsistencies.
The Commerce Conference Committee considered House Bill 1882 (printers number 2342) on Oct. 7. Committee staff summarized the proposal as requiring 16‑point font for reverse mortgage disclosures and requiring that branch managers be licensed as mortgage originators.
Committee members questioned the bill's internal consistency and said the draft "does not make sense as it's drafted." One member said he could not support the bill in its present form and would reconsider if a floor amendment made the internal language consistent.
"Anybody my age, you really appreciate larger font," one committee member said, noting the practical appeal of clearer disclosures but adding that drafting problems needed correction before final passage.
The committee held a roll-call vote and reported the bill to the House floor. The ayes were 14 and the nays were 12.
Committee members indicated an amendment might be offered on the floor to correct internal inconsistencies; the committee did not consider any amendment in committee.
The bill will proceed to the full House for further consideration.
