Important HECM News From HUD

Important HECM News From HUD

The Department of Housing and Urban Development made several important announcements this week that impact the Home Equity Conversion Mortgage program. Here are the highlights:

  • HUD published a Notice of Funding Opportunity that provides $51 million in grants to support counseling activities in the coming year. HUD said counseling agencies that offer HECM default counseling will receive priority points when it decides who gets grant funds and how much. Counseling agencies have until October 14, 2021, to submit their applications.
  • FHA announced in Mortgagee Letter (ML) 2021-23 that mortgagees can now submit appraisals for reverse mortgage endorsements through the FHA Catalyst: EAD Module. While the system is available immediately it becomes mandatory on March 14, 2022. Cases submitted through the legacy EAD portal prior to March 14, 2022, may continue to be delivered through the old system until April 15, 2022. Read the full details on
  • Several key staff appointments were announced, including Mia Pittman, Deputy Assistant Secretary for Risk Management and Regulatory Affairs, Federal Housing Administration; Nathan Shultz, Senior Advisor, Office of Housing, Federal Housing Administration; Demetria McCain, Principal Deputy Assistant Secretary, Office of Fair Housing and Equal Opportunity; and Brad Pollock, Special Assistant, Office of Policy Development & Research.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.