The HECM program is unique in that its success requires a strong partnership between the lending community and government. In order to provide the best product to consumers, both entities must work together to ensure the product’s safety, affordability and long-term viability for this nation’s seniors.

As the government agency in charge of overseeing the program, HUD’s role in the HECM is critical. So we reached out to HUD’s acting deputy assistant secretary, Bob Mulderig, to get his take on the current state of the reverse mortgage market in light of recent policy change and volume dips.

Mulderig, who assumed his role in May, recently oversaw the release of a proposed rule allowing for HECMs on condominium properties. While he says the agency’s mission to better the HECM is ongoing and future changes are inevitable, he also stresses the program’s importance. Since its inception, it has offered a financial solution to more than one million Americans—a milestone we celebrate in this issue’s Spotlight. That’s a testament to its value and, as Mulderig says, its ability to help 200 seniors a day find financial security is a fact we must not lose sight of.