The National Reverse Mortgage Lenders Association (NRMLA) is urging the U.S. Department of Housing and Urban Development (HUD) to overhaul several single-family property standards, arguing that current rules under the Federal Housing Administration (FHA)’s minimum property requirements are creating unnecessary costs and limiting access for older and rural borrowers.

In a June 29 letter to HUD’s Office of General Counsel — responding to a request for information on FHA’s Single Family Minimum Property Requirements — NRMLA said the rules, while intended to ensure safety and habitability, are often applied in ways that “disproportionately impact rural borrowers, senior details ⇒

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