Mortgage Settlement Could Cost Bank of America More Than $8.5B: CS

Bank of America Corp (NYSE:BAC) could face additional litigation and / or monetary negotiations as the recent court order doesn’t release loan modification claims. Moshe Orenbuch and Jill Glaser Shea of Credit Suisse point out that they remain on the sidelines on Bank of America Corp (NYSE:BAC) shares and assigned a Neutral rating to the stock. Bank of America’s recent settlement Last week, Bank of America Corp (NYSE:BAC) received court approval for its $8.5 billion agreement to settle the majority of the complaints filed by almost two dozen mortgage securities investors. Justice Barbara R. Kapnick of the State Supreme Court in Manhattan…