What are the lead based paint requirements on an FHA reverse mortgage?

For reverse mortgages, the same property requirements and repair items must be noted on the appraisal as for forward mortgages. However, defective paint need not be repaired and a Lead Based Paint Notice is not required if the borrower will certify that no child under the age of six will be residing in the property.

Mortgagee Letter 96-10 is available at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee

Handbook 4235.1 is available at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh

HECM Final Rule Federal Register ยง 206.45 https://www.govinfo.gov/content/pkg/FR-2017-01-19/pdf/2017-01044.pdf 

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: KA-02489