BofA Merrill to sell $92 mln reverse mortgage RMBS

NEW YORK, July 28 (Reuters) - Bank of America-Merrill Lynch plans to sell a $92 million bond backed by reverse mortgages insured by the federal government, according to a term sheet obtained by Reuters.

The bond is supported by "home equity conversion" mortgages, or those in which the lender gives the older borrowers cash in return for equity in the home.

The residential mortgage-backed security (RMBS) comes as Wall Street tries to revive a private-issuer market that has been largely shuttered since the financial crisis erupted in 2008. (Reporting by Al Yoon; editing by Jeffrey Benkoe)