SB 2190·TN·senate
Mortgages - As enacted, enacts the "Tennessee Reverse Mortgage Innovation Act." - Amends TCA Title 39, Chapter 15, Part 5; Title 45, Chapter 2, Part 12; Title 45, Chapter 20; Title 47, Chapter 30 and Title 67, Chapter 4, Part 4.
Signed into LawFiled Feb 2, 2026
Sponsor: Stevens
Latest Action
Comp. became Pub. Ch. 1027
May 26, 2026
Summary
The bill changes the Home Equity Conversion Mortgage Act to the Tennessee Reverse Mortgage Innovation Act, updating terminology and allowing proprietary (non‑FHA) reverse mortgages. It requires lenders to be approved, mandates independent counseling for borrowers, and bans tying the loan to the sale of other financial products. The changes affect senior homeowners, lenders, and state regulators by broadening loan choices while strengthening consumer protections.
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