Bank of America Corp., Deutsche Bank AG and Credit Suisse Group AG are deferring underwriting fees for initial public offerings by mortgage investment companies after buyers balked at the deals.

The Charlotte company's Bank of America Merrill Lynch, the top underwriter of initial U.S. stock offerings this year, agreed to delay part of its fees from two recent sales until the companies, known as real estate investment trusts, generate an 8% return on equity for a full year. The New York securities unit will forfeit the payments if the target is not met within six years, according to regulatory filings. Deutsche Bank and Credit Suisse have accepted similar terms to underwrite mortgage REITs.

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