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"We're not doing the job we need to do on mortgages yet," says Bank of America (BAC) CEO...
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Tuesday, December 4, 2012, 11:01 AM ET"We're not doing the job we need to do on mortgages yet," says Bank of America (BAC) CEO Moynihan, speaking at a Goldman Sachs conference. Having exited the business of buying loans from others, BofA is dependent on originating its own, and Moynihan says the bank is doing what it can to keep up with the high volume. (presentation)
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Not from where I sit in So. California. BofA does not hire the quality, or quantity, of loan officers as does its competitor, Wells Fargo. This bank is trying to use "feel-good" PR projects to generate profits rather than provide profitable banking services. As a shareholder, I'm dumping this t*rd the first time it's price crosses with the price any promising stock in the coming downturn.