According to FHA’s Annual Management Report, 452,196 of those loans with a maximum claim amount of $103 billion are still active.
The report also showed that the HECM program had a $414 million positive value in FY 2009. You can see the table below (page 63 in the report).
HUD’s spokesman told the Reverse Mortgage Report that the $414 million was transferred to the Department of Housing and Urban Development’s Mutual Mortgage Insurance Fund’s Capital Reserve Account.
The Housing and Economic Recovery Act (HERA) contained a provision which moved the HECM from the General Insurance Fund to the Mutual Mortgage Insurance Fund for fiscal year 2009 endorsements and beyond.