PA HB1466

Requires licensees processing reverse mortgage loan applications to provide applicants with in-person, face-to-face housing counseling from a HUD-approved housing counseling agency in Pennsylvania

Permits telephone or video teleconference counseling as an alternative when the applicant is unable or chooses not to attend in-person sessions

Mandates issuance of a certificate after counseling completion that includes signatures of the applicant and counselor, date of service, and contact information for both parties

Requires licensees to maintain the counseling certificate for the entire duration of the loan term

Takes effect 60 days after enactment and amends Title 7 (Banks and Banking) of the Pennsylvania Consolidated Statutes, Section 6121