Merrill Lynch Credit Corp. is doing a brisk business in 100% mortgages secured by brokerage accounts, according to a top company official.

"The Mortgage 100 program is accounting for 5% to 10% of our overall volume," said Robert J. Smith, senior vice president of the Jacksonville, Fla., subsidiary of Merrill Lynch & Co.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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