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Bank of America Corp (NYSE:BAC) trying for more mortgage-originations market share

Boston, MA 05/21/2013 (wallstreetpr) – Monday’s trading session saw Bank of America Corp (NYSE:BAC) climbing up by 0.60%. It closed at a price of $13.51 which reached an intraday high of $13.60 before heading down to close at $13.39 per share. In excess of 88.94 million shares exchanged hands in the previous trading session, which was below the average volume of 132.57 million that was measured over a 30-day period

If last weeks indication is anything to go by, there has been a slowdown in new-housing starts. In effect, this has left existing homes to face the music in housing demand. Bank of America Corp (NYSE:BAC) have been trying to grab more mortgage-originations market share. This might prove to be an important part of the housing market that is to come.

BAC is a bank holding company as well as a financial holding company. This financial institution serves individual consumers, middle and small market businesses, governments and corporations. It achieves this by providing a range of investing, banking, asset management as well as other risk and financial management services and products. It does this via its numerous banking and non-banking subsidiaries located right across the United States as well as international markets.  Bank of America Corp (NYSE:BAC) provides its banking and non-banking products and financial services via five different business segments: Consumer Real Estate Services , Consumer & Business Banking, Global Markets, Global Banking and Global Wealth & Investment Management. In 2013 February, Bank of America Corp (NYSE:BAC) announced the sale of its International Wealth Management Business outside the U.S, to Julius Baer Group.

Published by Ruchi Gupta

Swati Goyal has over 6 years of experience in financial research & analysis domain. She has built financial models varying from consumer goods to banks. She has her articles published in leading dailies of the nation



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