### Question
How is the "reverse mortgage transaction" defined?


### Answer
The term **reverse mortgage transaction** is defined in *15 U.S.C. § 1602* as follows -

> a nonrecourse transaction in which a mortgage, deed of trust, or equivalent consensual security interest is created against the consumer's principal dwelling—


(1) securing one or more advances

#### Citation:
  - *15 U.S.C. § 1602*
  - Heading: **CHAPTER 41-CONSUMER CREDIT PROTECTION > SUBCHAPTER I-CONSUMER CREDIT COST DISCLOSURE > Part A-General Provisions**

