All Roll Calls
Yes: 121 • No: 19
TennesseeHB 2382114th General Assembly (2025-2026)HouseWALLET
AN ACT to amend Tennessee Code Annotated, 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, relative to reverse mortgages.
Sponsored By: Sponsor information unavailable
Signed by Governor
Mortgages
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 2 benefits, 1 costs, 1 mixed.
More protections for reverse mortgage borrowers
Lenders can recover reverse mortgage debt only from proceeds of selling or transferring the property securing the loan. They cannot collect beyond those proceeds from the borrower. For loans or loan documents that violate Tennessee’s reverse mortgage rules, lenders cannot enforce interest, service fees, or insurance premiums. This does not make the loan principal unenforceable. Lenders cannot require or solicit an annuity, insurance policy, or other financial product purchase as a condition of loan approval.
More reverse mortgage options for homeowners
The law authorizes reverse mortgages without Federal Housing Administration insurance. These loans must follow Tennessee’s reverse mortgage rules and applicable federal and state law. A state or federal agency can insure or guarantee them, but this is not required. The law removes several requirements tied to federal housing agency or Fannie Mae guidelines. Effective upon becoming law, it renames the state framework the Tennessee Reverse Mortgage Innovation Act.
Reverse mortgage borrowers lose fee ceiling
The law removes a ceiling on certain reverse mortgage fees. That ceiling was tied to monthly service fees or insurance premiums allowed by federal housing authorities or Fannie Mae. The provision sets no replacement ceiling or fee amount. Borrowers face the possibility of higher fees, not a required increase.
Clearer reverse mortgages, required homeowner counseling
A reverse mortgage uses your main home as security and pays you through lump sums or installments. Repayment is due only after an event named in the contract. The loan note and mortgage or deed of trust must clearly name the product and lender or insurer. They must also state that the loan is a reverse mortgage under Tennessee Code Annotated, Title 47, Chapter 30. Before closing, lenders must get proof that all borrowers and necessary loan participants received independent counseling.
Sponsors & Cosponsors
Sponsors
There is no primary sponsor on record.
Cosponsors
T.J. Hardaway
Democrat • House
Greg Vital
Republican • House
Roll Call Votes
Senate vote • 4/20/2026
FLOOR VOTE: Third Consideration 4/20/2026
Yes: 26 • No: 4
House vote • 3/26/2026
FLOOR VOTE: REGULAR CALENDAR AS AMENDED PASSAGE ON THIRD CONSIDERATION 3/26/2026
Yes: 69 • No: 13
House vote • 3/26/2026
HOUSE CALENDAR & RULES COMMITTEE
Yes: 0 • No: 0
House vote • 3/11/2026
HOUSE COMMERCE COMMITTEE
Yes: 19 • No: 2
House vote • 3/4/2026
HOUSE BANKING AND CONSUMER AFFAIRS SUBCOMMITTEE
Yes: 7 • No: 0
Actions Timeline
Effective date(s) 05/19/2026
5/26/2026Pub. Ch. 1027
5/26/2026Signed by Governor.
5/19/2026Transmitted to Governor for his action.
5/7/2026HouseSigned by Senate Speaker
5/5/2026SenateSigned by H. Speaker
4/30/2026HouseEnrolled; ready for sig. of H. Speaker.
4/23/2026HousePassed Senate, Ayes 26, Nays 4, PNV 1
4/20/2026SenateAmendment withdrawn. (Amendment 1 - SA1018)
4/20/2026SenateSenate substituted House Bill for companion Senate Bill.
4/20/2026SenateReceived from House, Passed on First Consideration
3/30/2026SenateEngrossed; ready for transmission to Sen.
3/26/2026HousePassed H., as am., Ayes 69, Nays 13, PNV 3
3/26/2026HouseH. adopted am. (Amendment 1 - HA0661)
3/26/2026HouseSponsor(s) Added.
3/26/2026HouseH. Placed on Regular Calendar for 3/26/2026
3/19/2026HousePlaced on cal. Calendar & Rules Committee for 3/19/2026
3/18/2026HouseSponsor(s) Added.
3/12/2026HouseRec. for pass. if am., ref. to Calendar & Rules Committee
3/11/2026HousePlaced on cal. Commerce Committee for 3/11/2026
3/4/2026HouseRec for pass if am by s/c ref. to Commerce Committee
3/4/2026HousePlaced on s/c cal Banking & Consumer Affairs Subcommittee for 3/4/2026
2/25/2026HouseAssigned to s/c Banking & Consumer Affairs Subcommittee
2/5/2026HouseP2C, ref. to Commerce Committee
2/5/2026HouseIntro., P1C.
2/4/2026House
Bill Text
HA0661 (Substitute)
3/26/2026
Enrolled / Public Chapter
Fiscal Note
Introduced
SA1018
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