Boston, MA 12\/23\/2013 (wallstreetpr) – Embroiled American banking and mortgage giant\u00a0Bank of America Corp (NYSE:BAC) is seeing some respite partly from brightening mortgage market prospects for 2014 and in part, from the dividend yield of about 6.5% predicted by analysts from its Series D Preferred Stock, which could ensue its decent profitability brought on bit its third quarter.<\/p>\n
Settlement woes:<\/b><\/p>\n
Bank of America Corp (NYSE:BAC)\u00a0is still trying to move on from its current settlement worries, which seem far from over and have already cost it in billions, touching $45 billion since its housing crisis debacle in 2010 when issues started surfacing. The bank intends to look up to 2014 and put behind it the settlement plagues that engulfed it including recent ones by U.S. government authorities pertaining to Government-sponsored enterprises Fannie Mae and Freddie Mac. The most recent one slapped by U.S. securities regulator Securities and Exchange Commission culminated in penalties worth $131.8 million. BoA\u2019s tainted reputation stems over many years from antitrust, violations, gross mismanagement and misconduct. Recent statistics point at over 33% of Bank of America Corp (NYSE:BAC)\u2019s borrowers and mortgage customers forced toward foreclosures, while the industry average for foreclosures trailed at just 22%.<\/p>\n
Mortgage one silver lining<\/b><\/p>\n
Meanwhile, on Bank of America Corp (NYSE:BAC)\u2019s brighter side, its mortgage wing, one of the largest mortgage service providers in the U.S., has begun offering interest rates in a wider range under its home purchase and refinance mortgage programs. With momentum seen picking up across the U.S. in sales of homes and other real estate owned by banks, BoA plans to entice customers looking to invest in either new or used homes or to refinance an existing loan, a move seen by some as a bid to uplift its tarnished image.<\/p>\n
Furthermore, BoA\u2019s settlement turmoil and the resultant disrepute have not shown much impact on its stocks, which have swayed little with share value hovering around the $15 mark despite the financial chaos.\u00a0Bank of America Corp (NYSE:BAC) stocks fell almost 1% on December 20 to $15.60 at NYSE trade close from their previous $15.75, while after-hours figures showed a minor upward movement, staying around $15.64.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 12\/23\/2013 (wallstreetpr) – Embroiled American banking and mortgage giant\u00a0Bank of America Corp (NYSE:BAC) is seeing some respite partly from brightening mortgage market prospects […]<\/p>\n","protected":false},"author":13,"featured_media":13168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1654,1010],"stock_ticker":[],"class_list":["post-13167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bank-of-america-corp-nysebac","tag-nysebac","entry"],"acf":[],"yoast_head":"\n