Lenders expressed support for the FHA’s new interim policy requiring a second appraisal for home-equity conversion mortgages when the initial property valuation may be inflated. The new appraisal policy for HECMs took effect on Oct. 1 and will be in place through Sept. 1, 2019. FHA will review the policy to determine whether to renew it beyond fiscal year 2019, said FHA Commissioner Brian Montgomery during a press briefing this week. FHA will perform a collateral risk assessment of ...