Concern surfaced on Monday over Bank of America Corp.’s deal to acquire ailing mortgage lender Countrywide Financial Corp., with an analyst saying the Charlotte bank may be overpaying for the company and now might want to renegotiate the $4 billion deal.

“Countrywide is in such turmoil that I think it’s clear Bank of America will price this deal down,” Paul Miller an analyst at Friedman Billings Ramsey Group Inc. told Bloomberg News “Bank of America pulled the trigger way too early and they overpaid for it.”

Shares of the Calabasas lender have dropped 45 percent in 2008 and have lost an astonishing 89 percent year-over year.

Shares in Bank of America have also slipped 8.5 percent since the deal was announced, showing investors discontent with the deal.

Also looming is a fee of $160 million Countrywide would have to pay if it backs out of the deal with Bank of America.

Countrywide executives could not be reached for comment.