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Bank of America Sells $92 Million of HECMs in Private MBS Deal 

Aug 23, 2010By

Bank of America Merrill Lynch closed a $92 million private placement security backed by “troubled” reverse mortgages insured by the Federal Housing Administration according to Total Securitization.  The deal is the first private label reverse mortgage securitization seen in the market since the downturn. Issued by Mortgage Equity Conversion Asset Trust Corporation, a shelf issuer that […]