Reaction: Bank of America cleaning up mortgage woes ahead of stress test

Here's what I'm hearing about Bank of America's two big legal settlements announced Monday: The Charlotte-based bank is hustling to clean up its mortgage portfolio ahead of submitting capital plans to government regulators — the so-called stress test which will determine when (and if) BofA can consider increasing its dividend payments or share buybacks.

"It's good for the bank. It's good for the mortgage market," says UNC Charlotte finance professor Tony Plath. "I like it."

BofA is involved in…