About Reverse Mortgages

Following is a list of HECM program contacts at HUD's four regional Home Ownership Centers, and at headquarters.

This Chart has been compiled by the NRMLA Products and Capital Markets Committee for the benefit of NRMLA Members to better inform them of the types of reverse mortgage products and certain of their key features that are available in the marketplace.

Unfortunately, not everybody can qualify for a reverse mortgage. Perhaps the homeowner doesn’t have enough home equity to pay off an existing mortgage, the property may not qualify, or one the spouses may be under 62 and quit-claiming them off title is not an option.

It wasn't that long ago that consumers had three reverse mortgage products to choose from: the FHA HECM, the Fannie Mae Home Keeper, and the Financial Freedom Cash Account. There are now seven additional products. What does this mean for the marketplace?

The Home Equity Conversion Mortgage (HECM) is the oldest and most popular reverse mortgage product, accounting for 95-plus percent of the total market.