Sentences with phrase «reverse mortgage loan applicants»

This rule mandates that lenders financially assess all reverse mortgage loan applicants.

This rule mandates that lenders financially assess all reverse mortgage loan applicants.

Not exact matches

Some mortgage lenders try to get reverse mortgage applicants to buy additional, yet unnecessary, products as part of the loan package.

When applying for a reverse mortgage, loan applicants will be subject to a financial assessment to determine their willingness and capacity to afford the loan.

Eligibility for a reverse mortgage requires that loan applicants own their home.

Effective April 2015, this change requires reverse mortgage lenders to conduct a financial assessment of all applicants, in order to determine whether or not they must set aside a portion of their proceeds to fulfill loan obligations.