Home Equity Conversion Mortgage Insurance Demonstration: Streamlining the Demonstration and Allowing Use of the Direct Endorsement Program

This interim rule amends HUD's regulations in 24 CFR parts 203 and 206 to simplify the Home Equity Conversion Mortgage (HECM) Insurance Demonstration, and to expedite the processing of HECMs by permitting use of the Direct Endorsement program. The rule implements the statutory disclosure amendments in section 334 of the Cranston- Gonzalez National Affordable Housing Act. The rule also makes other changes, including technical and clarifying changes, to improve and streamline the program based on the first five years of the demonstration.