FHA: We Saw Appraisal Issues on 37% of HECM Loans

HousingWire, Oct. 1, 2018–Jessica Guerin
“We were trying to understand why, in a still relatively low interest rate market where house prices have returned in most major markets including in many of these states where reverse mortgages were, why were we still hemorrhaging money,” FHA Commissioner Brian Montgomery said. “We thought this was a contributing factor that required further due diligence.”