Q&A: Mortgage/Refinance professionals Can you answer this?

Fed's jobs program: Doomed to fail
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Stories in Friday's edition
John Kerry, viagra dosage who unsuccessfully sought the presidency in 2004 and has pined for the job of America's top diplomat, vaults to the head of President Barack Obama's short list of secretary of state candidates after U.N. Ambassador Susan Rice suddenly …
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Near-zero interest rates might sound great, but banks aren't allowing many …
If you've tried lately to refinance your home or get a home equity loan you know what I mean. Banks don't need to … doing the opposite. We're firing teachers and squeezing 30 kids into K-12 classrooms, defunding job training programs and reducing …
More informaiton please visit here…

by marsmet451

Question by chaoxiubao: For a BB sales and trading interview, ampoule what’s a good way to catch up on what’s been happening to the economy?
I have not been actively following the markets as I should have been. I need a good summary source that describes why our economy is having such trouble after subprime mortgage crisis, where it’s headed, how it got there.

Thanks

Best answer:

Answer by jkurz2008
Whew boy. You could be in trouble if your interviewer wants to know if you’re up to speed. I should note, however, that if you’re not up to speed, I don’t think you’re a good S&T candidate. What kind of trader doesn’t know what’s going on in the markets? Time is not an excuse.

You just need to read the coverage in the WSJ. Most of their articles over the last few days have dived into the fundementals. Also check out the Wiki on the subprime crisis:
http://en.wikipedia.org/wiki/Subprime_crisis

Overall, you just need to start absorbing the news and parsing what you don’t understand, and fast.

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Question by warmkatladycat: Mortgage/Refinance professionals Can you answer this?
My husband and I are eligible for a HARP 2 Refinance, find however we are finding that lenders are capping the LTV at 125%. This does not seem fair as it says there are no LTV’s on the Making Home Affordable website. Why is that? We have a home value (by Fannie Mae) of 173, stomach 600 and owe about 248,000 (over the 125%). Any lenders in Chicago area that are willing to do that loan? I have been doing research and have made a few phone calls to no avail. Any advice would be appreciated. I do not want to deal with my current servicer as they are no good…Green Tree…I already called them and they have a cap of 125% as well. Besides that, they are HORRIBLE!

Best answer:

Answer by skr
LTV is not capped. It is now unlimited If you have Fannie you can do a Fannie DU Plus if you choose another lender try Wells Fargo

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