Wells Fargo Home Mortgage will discontinue the origination of home equity conversion mortgages (HECM), otherwise known as reverse mortgages. New applications will not be accepted after June 30. The HECM is a U.S. Department of Housing and Urban Development reverse mortgage program that was designed for senior citizens in 1987. Wells Fargo Home Mortgage began originating reverse mortgages in 1990, and as of 2010 those loans made up about 2.2 percent of the company’s retail mortgage volume. The company said in a release that the decision to discontinue the HECM loans was based on unpredictable home values and the restrictions associated with reverse mortgages that make it difficult to determine seniors’ abilities to pay property taxes, homeowners’ insurance and other obligations of homeownership.