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"We're not doing the job we need to do on mortgages yet," says Bank of America (BAC) CEO...

"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)
Comments (3)
  • Buckoux
    , contributor
    Comments (5872) | Send Message
     
    "Moynihan says the bank is doing what it can to keep up with the high volume. "

     

    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.
    4 Dec 2012, 11:48 AM Reply Like
  • JamesChessing21
    , contributor
    Comments (112) | Send Message
     
    Look Bank of America needs to sort out the put backs before increasing lending on properity...for the time being it will be shrinking the balance sheet and improving loan quality missing out on mortgage lending is not the immediate problem...
    4 Dec 2012, 02:45 PM Reply Like
  • jerryu44
    , contributor
    Comments (111) | Send Message
     
    BAC has been one of my most profitable stocks this year. I really dont think anyone on here is qualified to say that they havent hired qualified loan officers. Looks like someone got turned down for a loan.
    7 Dec 2012, 02:24 AM Reply Like
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