Are Reserves Required on Reverse Mortgages?

Question: I have a 3-Unit Reverse Mortgage and am being asked to provide reserves.  Is this required by FHA? Answer: Per the HECM Guidelines and Financial Assessment Guide, there are NO listed requirements for reserves on any, one-four family units when underwriting a HECM.   On a regular FORWARD mortgage, yes, that would be a HUD guideline […]

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