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.
BofA Merrill to sell $92m reverse mortgage bonds
Most Popular Articles
Latest Articles
All parties have settled the Sitzer/Burnett suit, so what’s next?
Industry experts discuss the litigation calendar and what real estate agents should focus their energy on now that all parties have settled.