What kind of a reverse mortgage Fannie Mae offers?

Hi archie,

The reverse mortgage program that Fannie Mae offers is known as Fannie Mae Home Keeper reverse mortgage. It is same as the Home Equity Conversion Mortgage which is insured by FHA. Borrowers have the option of receiving the payment either in lump sum or in regular monthly payments. Borrowers are not required to pay the loan amount back until they leave the property or sell it off.

Fannie Mae doesn't offer any Reverse Mortgage program anymore. They used to offer the Homekeeper, but that program ended on December 31, 2008.

There are two options for a reverse mortgage Fannie Mae offers to consumers:

the Fannie Mae Home Keeper reverse mortgage program
the HUD-insured Home Equity Conversion Mortgage

let's get on the same wavelength here, people. if fannie mae did away with its reverse mortgage program, that means they don't offer it anymore.

reverse mortgage loans are only available with the fha product.