Bank of America is doing all of the right things to grow the bank. I expect the stock will be at about $16.50 before the end of the year and $20 at the end of 2014. Mortgage delinquencies and foreclosures are down. This is reflected in the stock trend.
Bank of America was smart in selling their field services operations to Safeguard Properties. Did Robert Klein really think that delinquencies and foreclosures would continue to climb. I expect that he will be handing out some pink slips to office staff and field service representatives and leasing office space as the economy continues to improve. Did he never think that the U.S. economy moves in cycles?
Mortgage inspectors and property preservation mechanics are being impacted by the decline. Insurance and commercial inspectors are seeing their business hold steady.
You know the mortgage segment is dying when you read some of the missing person reports.
More and more of the subcontractors to the Order Mills are showing up as missing. They are missing with the money they owe you. Leave the mortgage segment BEFORE it is too late.
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