Impact of the economic crisis on the HECM program

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By Jonathan B. Glowacki | 08 January 2010

Equity Conversion Mortgages (HECMs) account for some 90% of the reverse-mortgage market, which means that nearly all reverse-mortgage risk lies with the federal government. This article examines how recent declines in home prices have affected the value of the reverse-mortgage guarantee provided by the U.S. Department of Housing and Urban Development on HECM loans.

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