### Question
How does the law define home equity conversion mortgage?


### Answer
Under *12 U.S.C. § 1715z*, **home equity conversion mortgage** is defined as:

> a first mortgage which provides for future payments to the homeowner based on accumulated equity and which a housing creditor (as defined in section 3802(2) of this title) is authorized to make (A) under any law of the United States (other than section 3803 of this title) or applicable agency regulations thereunder

#### Citation:
  - *12 U.S.C. § 1715z*
  - Heading: **CHAPTER 12-SAVINGS ASSOCIATIONS > SUBCHAPTER II-MORTGAGE INSURANCE**

