The absence of clear formal standards regarding font size for reverse mortgage contracts allows lenders to use small fonts that can obscure confusing or exploitative terms. To protect consumers of reverse mortgages, we must align these printed loans with the Americans with Disabilities Act recommendations of sixteen-point font and we must ensure that all branch managers are licensed as a mortgage originator. By enlarging font sizes and requiring branch manager licensure, this legislation will help safeguard senior citizens from being unfairly targeted or misled when securing a reverse mortgage.
 
These two simple steps of enlarging reverse mortgage font size and requiring branch managers to be licensed as mortgage originators will improve transparency, reduce deception, and assist senior citizens in making fully informed financial decisions in coordination with professionals.
 
Please join me in co-sponsoring this important legislation to promote fairness, understanding, transparency, and responsible lending practices.