HUD Secretary Open To Raising Premiums For FHA Reverse Mortgages

Housing and Urban Development Secretary Shaun Donovan said he was open to raising premiums or restricting eligibility for Federal Housing Administration reverse mortgages to avoid a $798 million taxpayer subsidy for the program. "We do have options for changing the HECM program," Donovan told a Senate appropriations committee Thursday, referring to the FHA's Home Equity Conversion [...]a HUD Secretary Open To Raising Premiums For FHA Reverse Mortgages