Definitions for "HECM"
Home Equity Conversion Mortgage. MP] A reverse mortgage program administered by FHA.
Home Equity Conversion Mortgages
Home Equity Conversion Mortgage. A special type of mortgage-developed and insured by the Federal Housing Administration (FHA) that enables older home owners to convert the equity they have in their homes into cash, using a variety of payment options to address their specific financial needs. Sometimes called a reverse mortgage.