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FHA increases RM Lending Limit for 2021

Reverse Mortgage Lending Limit Rises to Over $822k in 2021 The lending limit for federally-backed reverse mortgages is increasing for the fifth consecutive year in a row, set to hit $822,375 in 2021. The Department of Housing and Urban Development (HUD) announced on Wednesday via Mortgagee Letter (ML) 2020-42 a maximum claim…