GAAP Requires Private Reverse Mortgages Use Mark-to-Fair Value Accounting

[In The News]

LARKSPUR, Calif., Feb. 21, 2019 /PRNewswire/ -- A seldom acknowledged downside of private reverse mortgages is the GAAP accounting requirement to mark contracts to fair value. Reverse mortgages are level-3 assets: the value is dependent upon an "unknowable" future event, moveout or death...

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