(a) It is the intent of the general assembly to authorize reverse mortgage loans under the provisions, terms and conditions imposed by this chapter. Nothing in this chapter shall be construed to apply to or restrict any loan, mortgage, or deed of trust which is valid under any other provision.
(b) It is further the intent of the general assembly to modernize this chapter to align this state with the best practices nationwide by expanding the financial tools available to senior homeowners and homebuyers and to provide maximum flexibility while maintaining strong consumer protections, thereby positioning this state as a national leader in retirement innovation and flexibility.