HUD Modifies and Deletes HUD/HS-10 System, Replaces with HERMIT System

Summary

The Department of Housing and Urban Development (HUD) is modifying and deleting its HUD/HS-10 Home Equity Conversion Mortgage (HECM) system, replacing it with the new Home Equity Reverse Mortgage Information Technology (HERMIT) system, to improve program effectiveness and consolidate activities.