S1420Introduced in the Senate
Exempts reverse mortgage transaction from requirement that secondary mortgage loan payments be made in equal amounts and payment periods.
Introduced by Joseph Lagana, District 38
What does this bill do?
Plain-English breakdown
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Official description
Exempts reverse mortgage transaction from requirement that secondary mortgage loan payments be made in equal amounts and payment periods.
Where it stands
Reported out of Assembly Committee, 2nd Reading
October 5, 2026
How did lawmakers vote?
General Assembly votes
1 recorded vote · each counted separately
Senate votes
2 recorded votes · each counted separately
General AssemblyStage: Assembly Housing and Community Development Committee: Reported Favorably · October 5, 2026
7
Yes
0
No
0
Absent or Not Voting
7 assemblymembers recorded in this General Assembly vote. Colors show vote categories only, not whether a vote was good or bad.
See how each assemblymember voted
| Assemblymember | District | Vote |
|---|---|---|
| William Moen | 5 | Yes |
| Robert Clifton | 12 | Yes |
| Victoria Flynn | 13 | Yes |
| Yvonne Lopez | 19 | Yes |
| Annette Quijano | 20 | Yes |
| Katie Brennan | 32 | Yes |
| Carmen Morales | 34 | Yes |
Bill history
Introduced in the Senate, Referred to Senate Commerce Committee
Reported from Senate Committee, 2nd Reading
Passed by the Senate (35-0)
Received in the Assembly, Referred to Assembly Housing Committee
Reported out of Assembly Committee, 2nd Reading
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