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