FHA Announces Temporary HECM Waivers – NMP Skip to main content

FHA Announces Temporary HECM Waivers

Jun 24, 2022
FHA Logo
Staff Writer

Waivers provide relief to borrowers affected by pandemic.

The Federal Housing Administration (FHA) on Thursday issued temporary partial waivers to its Home Equity Conversion Mortgage (HECM) policies, also known as reverse mortgages.

The waivers, FHA officials said, will provide mortgagees with expanded flexibility to help senior homeowners with HECMs who continue to experience significant financial hardship due to the COVID-19 pandemic.

One waiver allows lenders to offer repayment plans to HECM borrowers with unpaid property charges or taxes, regardless of their total outstanding payments. The waiver is effective through the end of this year.

The other waiver allows lenders to seek assignment of a HECM immediately after using their own funds to pay unpaid property taxes and insurance on or after March, 1, 2020, by temporarily eliminating the three-year waiting period for such assignments. The waiver is effective through the end of the year.

FHA officials said the waivers offer relief to HECM borrowers who were unable to make timely property charge payments due to financial hardship resulting from the pandemic.

About the author
Staff Writer
Steve Goode was a staff writer at NMP.
Published
Jun 24, 2022
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026