Bank of America Corporation (NYSE:BAC) has continued its drop in the mortgage rankings.

Bank of America Corporation (NYSE:BAC) Heading Down Mortgage Ranks

Reuters has reported that Bank of America Corporation (NYSE:BAC) is continuing its descent in the rankings.

This situation was created after the bank stopped buying loans made by smaller banks.

Brian Moynihan, Bank of America Corporation (NYSE:BAC) Chief Executive Officer, said that, “Bank of America Corporation (NYSE:BAC) has shaped our mortgage business much smaller. We’ve really got it back (to) our core retail customer… Bank of America Corporation (NYSE:BAC) will continue to do that”.

Bank of America Corp. (NYSE:BAC) stocks were at 7.30 at the end of the last day’s trading. There’s been a 11.5% change in the stock price over the past 3 months.

Bank of America Corp. (NYSE:BAC) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: 2.33
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 2.25
Zack’s Rank: 15 out of 15 in the industry