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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Impact of the economic crisis on the HECM program
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
Jonathan Glowacki