WASHINGTON — The Department of Housing and Urban Development is revising its fees on federally insured reverse mortgages to reduce losses to its Home Equity Conversion Mortgage program.

The agency will charge higher upfront premiums for most borrowers while lowering the annual premium. Under the new system, the upfront premium will be 2% for all loans, replacing the variable rate between 0.5% to 2.5%, with the annual premium lowered to 0.5% from 1.25%.

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