What is the effective date of the requirements for Home Equity Conversion Mortgages (HECM) in Mortgagee Letter 2018-06?

The Mortgagee Letter (ML) continues to be in effect for all HECM case numbers assigned on or after October 1, 2018 as clarified in ML 2019-16.

For additional information see Mortgagee Letters 2018-06 and 2019-16 available at: https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.

Topic Number: 2018-0024