### Question
How is the term home equity conversion mortgage defined?


### Answer
The term **home equity conversion mortgage** is defined in *12 U.S.C. § 1715z* as the following:

> 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 13-NATIONAL HOUSING > SUBCHAPTER II-MORTGAGE INSURANCE**

