# Home Equity Conversion Mortgage (HECM) Program; Insurance for Mortgages To Refinance Existing HECMs and Reduced Initial Mortgage Insurance Premiums (MIP)
> **US Department of Housing and Urban Development** · Final rule. · Published 2004-12-15 · Effective 2005-01-14 · 69 FR 75204
## Document
- **Document number:** 04-27310
- **Category:** hud-other
- **Agency:** US Department of Housing and Urban Development
- **Federal Register citation:** 69 FR 75204
- **CFR reference:** 24 CFR 206
- **Publication date:** 2004-12-15
- **Effective date:** 2005-01-14
- **Docket:** Docket No. FR-4667-F-03
## Abstract

On March 25, 2004, HUD published an interim rule implementing certain statutory changes to the Home Equity Conversion Mortgage (HECM) Program made by section 201 of the American Homeownership and Economic Opportunity Act of 2000 (AHEOA). Among other changes, the rule provided for a reduced initial mortgage insurance premium (MIP) on HECM refinancings. The interim rule requested comments on the MIP provision of the rule. This final rule follows publication of the March 25, 2004, interim rule. HUD did not receive any public comments on the interim regulatory change regarding the reduced MIP for HECM refinancings and, therefore, is adopting the interim rule without change.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2004/12/15/04-27310/home-equity-conversion-mortgage-hecm-program-insurance-for-mortgages-to-refinance-existing-hecms-and)
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