The Bank of New York Mellon (BK) is planning to enter the reverse mortgage business.

Through its Home Equity Retirement Solutions program, which is expected to be implemented before the end of 2014, the bank will purchase, securitize and service reverse mortgages and offer seniors cash to supplement their retirement plans.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.