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The Evolution of the Home
Equity Conversion Mortgage (HECM)
30 Years of Improvements and Innovations
The Beginning
One of the most notable acts of the 100th Congress of the United
States in 1987 was passing the Housing and Community Development
Act, authorizing the Home Equity Conversion Mortgage (HECM)
Demonstration, a pilot program that would insure reverse mortgage loans.
February 5, 1988 October 19, 1989
President Ronald Reagan signs Housing Marjorie Mason receives the
and Community Development Act first FHA-insured HECM
