Allegations of Homeowner Abuse Won’t Help Bank of America Corp (BAC) Regain Mortgage Business

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Publicity won’t bode well for B of A’s mortgage push
This whole mess is disappointing, to say the least, and not only because of the distasteful manner in which the bank treated the most vulnerable of mortgage customers. This behavior is sure to make things more difficult for Bank of America Corp (NYSE:BAC) as it tries to regain its share of the mortgage market. B of A has put much consideration and money toward this new program, which so far seems to be working well. But, negative publicity like this could scuttle this plan, reversing any gains that the bank has so far been able to achieve. After all CEO Brian Moynihan’s hard work and planning, that would be a shame, indeed.

The article Allegations of Homeowner Abuse Won’t Help Bank of America Regain Mortgage Business originally appeared on Fool.com.

Fool contributor Amanda Alix has no position in any stocks mentioned. The Motley Fool recommends Bank of America, Goldman Sachs, and Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan (NYSE:JPM) Chase, and Wells Fargo.

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