What is the Definition of the “Due Date” for HECMs that are due and payable?

For Home Equity Conversion Mortgages (HECM) that are due and payable, the “Due Date” is the date when:

  • the Mortgagee notifies HUD that the mortgage became due and payable without HUD’s approval; or
  • HUD approves the Mortgagee’s request to call the mortgage due and payable.  

For HECMs with a Case Number assigned on or after August 4, 2014, where there is a deferral of “Due and Payable” status for an Eligible Non-Borrowing Spouse, the “Due Date” is the date when the Deferral Period ends.

For HECMs with a Case Number assigned before August 4, 2014, where there is a Surviving Non-Borrowing Spouse, Mortgagees must follow the “Due Date” requirements established in Mortgagee Letter (ML) 15-15.
For more information see MLs 15-15 and 15-10 available at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee
Any additional questions may be directed to the FHA Resource Center at Toll-Free (800) CALLFHA (225-5342) or by email to answers@hud.gov.  Persons with hearing or speech impairments may reach this number by calling the Federal Information Relay Service at (800) 877-8339.

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: KA-02404