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4. Underwriting the Property
The Mortgagee must underwrite the completed appraisal report to determine if the Property provides sufficient collateral for the FHA-insured HECM. The appraisal and Property must comply with the requirements in the Appraiser and Property Requirements for Title II Forward and Reverse Mortgages. The appraisal must be reported in accordance with the Acceptable Reporting Forms and Protocols.