NRMLA Statement on HUD Secretary’s Remarks Regarding the HECM Program

HUD Secretary Ben Carson delivered remarks today emphasizing the Department’s commitment to senior living programs including the Federal Housing Administration’s Home Equity Conversion Mortgage Program.

In his speech, the Secretary outlined three essential HUD initiatives for our nation’s seniors. The second initiative, based on a goal of “good financial health” that enables individuals to use their own resources for their own needs in their own way, focuses on the HECM program.

In response to the Secretary’s remarks, NRMLA President and CEO Peter Bell commented that:

“We appreciate Secretary Carson’s articulation of all the important changes to the HECM program and HUD’s efforts to implement them. NRMLA and our members stand ready to assist the Department in continuing to enhance the utility and viability of the HECM program, which has served over a million senior households since President Reagan signed the program into law.”

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Media Contact: Jenny Werwa, jwerwa@dworbell.com, 202-939-1783