House and Senate appropriators allotted $150 million for the Federal Housing Administration (FHA) reverse mortgage program but now it appears those credit subsidy funds won’t be needed because of the new FHA Home Equity Conversion Mortgage (HECM) Saver program.

This is good news for the FHA HECM program, which probably never would have seen the $150 million with the new Congress fixated on cutting budgets and reducing deficits.

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