HECM lending increased by 5.3% on a quarterly basis in the fourth quarter of 2024. But for the full year, endorsements declined, with a downturn in production in four major states. (Includes three data tables.)

Endorsement activity involving traditional HECMs declined slightly and production of HECMs for home purchase increased during the third quarter. Mutual of Omaha remained the top HECM lender. (Includes three data tables.)

The SFLS program is intended to yield a recovery to the MMIF that meets or exceeds the recovery obtained from a foreclosure-based claim.

The term sheet for Ginnie’s home equity conversion mortgage MBS 2.0 program is largely unchanged from the draft proposed earlier this year.

The new pooling option aims to provide some relief for servicers of reverse mortgages.

The capital ratio for FHA’s home equity conversion mortgage program grew nearly 800 basis points, helped by home price trends.

FHA and Ginnie Mae officials are working to ensure HECMs are available by implementing various reforms.

Housing counseling agencies should increase training on home equity conversion mortgages to accommodate the rise in older Americans who want to age in place, according to FHA Commissioner Julia Gordon.

FHA Commissioner Julia Gordon spoke Tuesday at an online housing counseling conference hosted by the Department of Housing and Urban Development’s Office of Housing Counseling.

The changes are effective Sept. 28 and are necessary to improve the long-term stability of the HECM program, FHA said.