Great article!!! We are no different than any other industry. The question is will the reward exceed the risks. Here B of A is taking the lead. It is hard to believe that if it took this long for B of A to add fixed rate HECMs to their product line that have foolishly decided to take the steps in the secondary market they are.

I hope B of A proves this is a profitable and prudent business decision. Combined with their other activities though, the risk seems very reasonable and well thought out. Smaller lenders with less diversification may find that this route still too risky even if B of A proves otherwise for their operations.