In its mission to ensure the long-term stability of the reverse mortgage program, HUD released yet another round of proposed policy change in May. The 200-page document outlined a multitude of proposals set to impact the program, seeking feedback from industry participants who responded fervently to HUD’s call for input.
In this month’s issue, we take a look at some of these responses, highlighting the proposals that were the most applauded and those that incited the greatest protest. With HUD’s comment period now closed, the industry will have to wait to see how its input will impact the final rules.
The detailed feedback submitted by HECM advocates highlights just how much people care about the shape of the reverse mortgage program. With HUD working toward a shared goal to improve the product—and seeking input from those invested in its success along the way—HECM proponents can rest assured that the HECM will be around to help seniors for years to come.
