Existing state and federal law regulate the activities of financial institutions. Existing state law regulates reverse mortgage loans and requires a lender to refer a prospective borrower to a housing counseling agency, as specified, and prohibits a lender from accepting a final and complete application for a reverse mortgage loan or assessing any fees without receiving certification, as specified, that the borrower has received loan counseling. Existing law prohibits a lender from taking a reverse mortgage application before having provided an applicant a specified disclosure notice and written checklist.
California AB 1700 (20132014) — Reverse mortgages: notifications.
Existing state and federal law regulate the activities of financial institutions. Existing state law regulates reverse mortgage loans and requires a lender to refer a prospective borrower to a housing counseling agency, as specified, and prohibits a lender from accepting a final and complete application for a reverse mortgage loan or assessing any fees without receiving certification, as specified, that the borrower has received loan counseling. Existing law prohibits a lender from taking a reverse mortgage application before having provided an applicant a specified disclosure notice and written checklist.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
AB 1700 MEDINA Assembly Third Reading — 73–1 (pass) · lower
Do pass as amended, and re-refer to the Committee on Judiciary. — 7–0 (pass) · upper
Sponsors
Medina — primary (person)
Correa — coauthor (person)
Timeline
The legislative action history — every referral, reading, and vote.
2014-02-13 Read first time. To print. reading-1
2014-02-14 From printer. May be heard in committee March 16.
2014-02-20 Referred to Com. on B. & F. referral-committee
2014-04-09 From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended. amendment-introduction, amendment-passage, reading-2, reading-1
2014-04-10 Re-referred to Com. on B. & F. referral-committee
2014-04-22 From committee: Do pass. (Ayes 11. Noes 1.) (April 21). committee-passage-favorable, committee-passage
2014-04-23 Read second time. Ordered to third reading. reading-2, reading-1
2014-04-24 Read third time. Passed. Ordered to the Senate. (Ayes 73. Noes 1. Page 4595.) reading-3, reading-1, passage
2014-04-24 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2014-05-08 Referred to Coms. on B. & F.I. and JUD. referral-committee
2014-06-09 From committee: Do pass as amended and re-refer to Com. on JUD. (Ayes 7. Noes 0.) (June 4). committee-passage-favorable, committee-passage, amendment-passage
2014-06-10 Read second time and amended. Re-referred to Com. on JUD. amendment-passage, reading-2, reading-1, referral-committee
2014-06-18 From committee: Do pass. (Ayes 6. Noes 0.) (June 17). committee-passage-favorable, committee-passage
2014-06-19 Read second time. Ordered to third reading. reading-2, reading-1
2014-08-07 Read third time and amended. Ordered to second reading. reading-3, reading-1, amendment-passage
2014-08-11 Read second time. Ordered to third reading. reading-2, reading-1
2014-08-13 Read third time. Passed. Ordered to the Assembly. (Ayes 35. Noes 0. Page 4466.). reading-3, reading-1, passage
2014-08-13 In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 15 pursuant to Assembly Rule 77.
2014-08-18 Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 77. Noes 1. Page 6098.). committee-passage-favorable, amendment-passage
2014-08-27 Enrolled and presented to the Governor at 3 p.m.
2014-09-30 Approved by the Governor. executive-signature
2014-09-30 Chaptered by Secretary of State - Chapter 854, Statutes of 2014.
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/3025cd40-d452-471c-a7f3-2f128da21ca7. Confidence: reported (aggregated from official California legislature records).