{"abstract":"This final rule codifies several significant changes to FHA's Home Equity Conversion Mortgage program that were previously issued under the authority granted to HUD in the Housing and Economic Recovery Act of 2008 and the Reverse Mortgage Stabilization Act of 2013, and makes additional regulatory changes. The HECM program is FHA's reverse mortgage program that enables seniors who have equity in their homes to withdraw a portion of the accumulated equity. The intent of the Home Equity Conversion Mortgage program is to ease the financial burden on elderly homeowners facing increased health, housing, and subsistence costs at a time of reduced income. FHA's mission is to serve underserved markets, which must be balanced with HUD's inherent, as well as, statutory obligation under the National Housing Act to protect the FHA insurance funds. This rulemaking strengthens the FHA Home Equity Conversion Mortgage program and codifies changes that reduce risk to the Mutual Mortgage Insurance Fund and increase the sustainability of this important program for seniors. This final rule follows publication of a May 19, 2016, proposed rule and takes into consideration the public comments received on the proposed rule.","action":"Final rule.","agencies":[{"raw_name":"DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT","name":"Housing and Urban Development Department","id":228,"url":"https://www.federalregister.gov/agencies/housing-and-urban-development-department","json_url":"https://www.federalregister.gov/api/v1/agencies/228","parent_id":null,"slug":"housing-and-urban-development-department"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2017/01/19/2017-01044.html","cfr_references":[{"chapter":null,"citation_url":null,"part":30,"title":24},{"chapter":null,"citation_url":null,"part":206,"title":24}],"citation":"82 FR 7094","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective Date: September 19, 2017.","disposition_notes":null,"docket_ids":["Docket No. FR-5353-F-03"],"dockets":[],"document_number":"2017-01044","effective_on":"2017-09-19","end_page":7146,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2017/01/19/2017-01044.xml","html_url":"https://www.federalregister.gov/documents/2017/01/19/2017-01044/federal-housing-administration-strengthening-the-home-equity-conversion-mortgage-program","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2017-01044?publication_date=2017-01-19","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2017-01-19/2017-01044/mods.xml","not_received_for_publication":null,"page_length":53,"page_views":{"count":17695,"last_updated":"2026-07-28 14:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2017-01-19/pdf/2017-01044.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2017-01044.pdf?1484747159","publication_date":"2017-01-19","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2017/01/19/2017-01044.txt","regulation_id_number_info":{"2502-AI79":{"issue":"201610","html_url":"https://www.federalregister.gov/regulations/2502-AI79/federal-housing-administration-fha-strengthening-the-home-equity-conversion-mortgages-hecm-program-t","title":"Federal Housing Administration (FHA): Strengthening the Home Equity Conversion Mortgages (HECM) Program to Promote Sustained Homeownership (FR-5353)","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201610&RIN=2502-AI79&operation=OPERATION_EXPORT_XML","priority_category":"Economically Significant"}},"regulation_id_numbers":["2502-AI79"],"regulations_dot_gov_info":{"supporting_documents":[{"title":"5353-F-03 Regulatory Impact Analysis 1.11.2017","document_id":"HUD-2016-0082-0009"}],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/2502-AI79/federal-housing-administration-fha-strengthening-the-home-equity-conversion-mortgages-hecm-program-t","title":"Federal Housing Administration (FHA): Strengthening the Home Equity Conversion Mortgages (HECM) Program to Promote Sustained Homeownership (FR-5353)"},"comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=HUD-2016-0082","supporting_documents_count":1,"docket_id":"HUD-2016-0082","regulation_id_number":"2502-AI79","title":"FR–5353–N–02 Federal Housing Administration: Strengthening the Home Equity Conversion Mortgage Program","checked_regulationsdotgov_at":"2017-02-08T06:00:21Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":7094,"subtype":null,"title":"Federal Housing Administration: Strengthening the Home Equity Conversion Mortgage Program","toc_doc":"Strengthening Home Equity Conversion Mortgage Program","toc_subject":"Federal Housing Administration:","topics":["Administrative practice and procedure","Grant programs-housing and community development","Loan programs","Loan programs-housing and community development","Mortgage insurance","Penalties","Reporting and recordkeeping requirements"],"type":"Rule","volume":82}