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Bank of America Top Reverse Lender in 4Q08

Bank of America funded $1.47 billion in reverse mortgages in the fourth quarter, ranking first nationwide, according to preliminary survey figures compiled by National Mortgage News and the Quarterly Data Report.

BoA's reverse production business soared by 182% compared to the same period in 2007. Wells Fargo & Co. ranked second among reverse lenders, originating $1.38 billion, a 7% gain.

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