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Home » Store » News » Bank of America Pulls Out of Reverse Lending

Bank of America Pulls Out of Reverse Lending

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Bank of America announced last week that it will stop originating reverse mortgages, including FHA Home Equity Conversion Mortgages, as the company will concentrate on its “core” business. BofA was the second-largest HECM lender through three quarters of 2010, according to an Inside FHA Lending analysis of government data, second only to Wells Fargo. BofA increased...
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