Bank of America issued the first reverse mortgage REMIC via Ginnie Mae, according to The Reverse Mortgage Alert, which is a publication from DealFlow Media.

According to the report, the $130.9 million REMIC trust is backed by two home equity conversion MBS (HMBS) pools for adjustable-rate, Libor-based loans that the bank issued last August and September, according to a Ginnie Mae offering circular supplement.

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