Also, Bank of America is just discontinuing their mortgage processing business. This is the problem of the new LPS, not the FIS stock. The mortgage processing division was in trouble long before the Bank of America announcement, which is why that business is going to be split off from the thriving transaction processing business.
I don't think LPS is any more than about a $14 stock that is going to pretty much mirror the economic status and housing bubble.
HOWEVER, the transaction processing business is thriving industry wide.
Just wait until the two businesses are separate, and you'll be rewarded. LPS is even going to be a great long term stock if you have some patience, but it is going to struggle until the housing bubble crisis turns around!!
BOA's announcement had little to do with LPS and more to do with their purchase of Countrywide Home Loans. Why pay someone to process your mortgages when you have your own compnay. Countrywide does not use LPS software, they have their own and a decent package.