We thought we knew what a Reverse Mortgage was until one of our investors rejected our policy and procedure for several defects, one of which was they didn’t accept our definition of a Reverse Mortgage.
Now we are scrambling to rewrite the Reverse Mortgage policy but need a really good definition. We’ve spoken with our attorneys and a few companies that sell this policy. But we are unsatisfied with all of them. Our CEO told us to contact you to see how you would define a Reverse Mortgage. He told us you would provide the kind of guidance we would need.
So, we’re writing you to get a good definition of a Reverse Mortgage that will hopefully meet our investor’s expectations.
What is the definition of a Reverse Mortgage?
