The Office of Thrift Supervision has cleared the way for thrifts to originate Fannie Mae's new reverse-annuity mortgages, as long as they are sold immediately to the secondary market agency.

Fannie Mae's reverse-annuity mortgages allow borrowers 62 years old or older to borrow against the equity in their homes. Borrowers repay principal and interest once they stop using the homes as principal residences.

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