Reverse mortgage loans may be made or acquired without regard to the following statutory provisions or relevant interpretation of law:

1. (a) Limitations on the purpose and use of future advances or any other mortgage proceeds;
2. (b) Limitations on future advances to a term of years, or limitations on the term of credit line advances;
3. (c) Limitations on the term during which future advances take priority over intervening advances;
4. (d) Requirements that a maximum mortgage amount be stated in the mortgage;
5. (e) Limitations on loan-to-value ratios;
6. (f) Prohibitions on balloon payments;
7. (g) Prohibitions on compounded interest and interest on interest;
8. (h) Interest rate limits under the usury statutes;
9. (i) Requirements that a percentage of the loan proceeds must be advanced prior to loan assignment; and
10. (j) Limitations on ongoing administrative and servicing fees.