Bank of America Merrill Lynch plans to sell a $92m bond backed by troubled reverse mortgages insured by the federal government. The bond is supported by 760 “home equity conversion” mortgages, or those in which the lender gives the older borrowers cash in return for equity in the home. The borrowers are all in distressed situations, including foreclosure.

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U.S. home prices rise by 4% in December

Last December, home prices climbed by 4% from the previous year, according to CoreLogic. By the end of this year, the company projects they’ll increase by 5.2%.

Feb 17, 2020 By
3d rendering of a row of luxury townhouses along a street

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