HUD PD&R Publication Examines HECMs

The latest issue of Cityscape, published by HUD’s Office of Policy Development and Research, is a double issue titledHome Equity Conversion Mortgages and Transforming Communities that includes articles on reverse mortgage collateral, tax deferral programs, reverse mortgage motivations and outcomes and analysis of the Japanese reverse mortgage market.

Guest Editor William Reid summarized the HECM symposium in his introductory remarks by writing, “With the elderly population growing steadily, a strong preference to age in place, a high elderly homeownership rate, and high equity for the elderly, they find a strong potential for growth in the number of HECM loans (Carter and Miller, 2017).”

The symposium articles focus on problems faced by the HECM program and the remedies considered to address them in the wake of the mortgage crisis and Great Recession.