The U.S. Department of Housing and Urban Development (HUD) continues to support the Home Equity Conversion Mortgage (HECM) program as an option that can benefit certain seniors seeking to age in place, though certain questions about HECM program policies from the Department remain ambiguous or unanswered. This is according to a statement provided by the Department to RMD after specific outreach about the reverse mortgage program.
In general, the HUD statement provides an overarching policy perspective on the general stance that HUD under the administration of President Joe Biden has for reverse mortgages broadly and the HECM program specifically, however direct questions about HUD’s current and future plans for HECM policy remain unanswered based on RMD’s correspondence with a HUD spokesperson.
General HECM perspective from
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