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Vermont Statutes Title 8. Banking and Insurance, § 10704. Limitation on reverse mortgage loan programs

Current as of January 01, 2024 | Updated by Findlaw Staff

No financial institution shall issue a reverse mortgage loan unless it is a lender approved by the federal Department of Housing and Urban Development (HUD) to enter into a loan insured by the federal government and the reverse mortgage loan complies with all requirements for participation in the HUD Home Equity Conversion Mortgage Program (or other similar federal reverse mortgage loan program from time to time created) and is insured by the Federal Housing Administration or other similar federal agency or is a government sponsored enterprise reverse mortgage loan.

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Cite this article: FindLaw.com - Vermont Statutes Title 8. Banking and Insurance, § 10704. Limitation on reverse mortgage loan programs - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-8-banking-and-insurance/vt-st-tit-8-sect-10704/

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