On June 12, the U.S. House passed H.R. 2167, the Reverse Mortgage Stabilization Act, which would authorize the HUD Secretary to establish, by notice or mortgagee letter, any additional or alternative requirements determined necessary to improve the fiscal safety and soundness of the Home Equity Conversion Mortgage (HECM) program. During recent hearings in both the House and Senate, the FHA has sought more flexibility to pursue program changes outside of the formal rulemaking process. A Senate bill, S. 469 is similar to the House version, but in addition would require that HECM mortgages contain terms and provisions for establishing escrow accounts, performing financial assessments, or limiting the amount of any payment made available under the mortgage.