Real Estate Analysis and Commentary.

FHA TO REQUIRE SECOND APPRAISAL FOR CERTAIN REVERSE MORTGAGES
October 3rd, 2018 2:37 PM

FHA TO REQUIRE SECOND APPRAISAL FOR CERTAIN REVERSE MORTGAGES

WASHINGTON – The Federal Housing Administration (FHA) today announced that it will begin requiring lenders originating new Home Equity Conversion Mortgages (HECMs), commonly referred to as reverse mortgages, to provide a second property appraisal under certain circumstances. FHA is instructing lenders to provide a second independent property appraisal in cases where FHA determines there may be inflated property valuations.

For more reference:

https://www.hud.gov/press/press_releases_media_advisories/HUD_No_18_111 


Posted in:General and tagged: FHA
Posted by Wayne Henry on October 3rd, 2018 2:37 PMPost a Comment

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