Home Equity Conversion Mortgages: Long Term Care Insurance; Advance Notice of Proposed Rulemaking

Riepilogo

This notice requests comments on issues related to the implementation of a statute that allows for the waiver of the collection of a home equity conversion mortgage (HECM) mortgagor's single up-front mortgage premium. The statute allows for the waiver provided that the HECM future payments to the homeowner are used to pay the premiums for a qualified long term care insurance contract.