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BofA exits reverse mortgage lending

Bank of America (BAC: 14.29 -0.97%) said Friday it will no longer originate reverse mortgages as it continues to shake up its core business.
A reverse or Home Equity Conversion Mortgage allows the borrower, who must be at least 62 years old, to convert a portion of the equity in the home for cash. No repayment [...]

 BofA exits reverse mortgage lending
HousingWire

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