|Label:||Assets Loans And Receivables Reverse Product Amount|
|Business Description & Guidance:||
This is the value, as at the relevant date of reverse loans advanced by the reporting party.Reverse loans allow for the borrowing of money against a secured asset, typically a primary residence in the case of reverse mortgage loans. Reverse loans do not require principal and interest payments until termination of the facility, which is not fixed and normally occurs when nominated borrowers die, vacate the mortgaged property or the asset is sold.
Residential mortgage term loans to households - Reverse Mortgages