HMDA allows N/A as income if income was not used for the loan approval. Since income is not used to justify loan approval on a Reverse mortgage, is it acceptable to note all files with income as N/A? The Reverse loan application has a spot for income, however, I think this is an FHA thing and not necessarily a HMDA thing. Was wondering how other lenders handle this situation.
Reverse Mortgages - Reporting Income
Posted - 02/04/2010 : 09:40:17 AM
