The Federal Housing Administration (FHA) on Wednesday published Mortgagee Letter (ML) 2024-18, which implements updates to debenture interest rates and reimbursements for Home Equity Conversion Mortgage (HECM) program claims proposed in July. The ML goes into effect on Sept. 28.

Debenture interest refers to the percentage of a return that an investor would receive for lending money through a debenture. The updated rule builds upon several changes that FHA made to the HECM program on Jan. 19, 2017, which went into details ⇒

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