What if there are differences between the first and second Home Equity Conversion Mortgage (HECM) appraisals regarding required repairs for Minimum Property Requirements (MPR)?

The Mortgagee is responsible for the quality of the appraisals and must reconcile any discrepancies to ensure that the property complies with Minimum Property Requirements (MPR).

 

HQ Policy Determination 


All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: 2018-0037