The newly introduced "HECM Stabilization Act of 2013", or Senate Bill 469, would give FHA the Congressional authority to make sweeping changes to the federally-insured reverse mortgage program. Sponsored by US Senator Robert Menendez the bill would allow to make 'much needed' reforms rather than delay them with the long and arduous rule-making process. Perhaps the bill should be named the "HECM Reconstruction Act of 2013" as it will give the agency free reign in reshaping the program to reduce it's risk and consequently change the demographic the HECM program traditionally served.