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May a reverse mortgage lender originate, and process a loan while having another exempt entity underwrite, fund and close a reverse mortgage?

April 26, 2017entity exempt fund Lender loan originate process reverse mortgage underwrite

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May a reverse mortgage lender originate, and process a loan while having another exempt entity underwrite, fund and close a reverse mortgage?

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A. No. The Reverse Mortgage Act does not allow for brokering of reverse mortgages only the making and servicing of such loans by those who are approved.