The Federal Reserve adressed congress last week and expressed its desire to see HARP 2.0 adopted by more lenders. Bank of America announced that they full support the guidelines of HARP 2.0 and will dedicate resources to implement its changes. A lot of economic data will be released before this weekend, including Thursday’s GDP and Friday’s Personal Income/Spending reports.
What’s Up on Wall Street?
The stock markets closed on Friday with mixed results for all three major indexes. The Dow Jones Industrial Average closed down 2.42 points (0.02 percent) to finish the week with a total loss of 2.61 percent. To make matters worse, the Dow only saw one day of gains (Thursday, +45.30). The S&P 500 finished up 3.91 points (0.32 percent) to close the week off 2.83 percent lower than its open on Monday. The Nasdaq Composite closed in the green with a gain of 14.32 points (0.56 percent), but took the biggest hit of the week and finished down 3.46 percent after five days of trading.
Eric Mally is a contributor for Quicken Loans’ Zing Blog. Stay connected with us on our Facebook page and our Twitter page to find out all the ways we’re Engineered to Amaze.
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Its a joke. Some lenders may say they are ready for v2.0 but most of them will not do HARP for non-existing customers. So for me, my servicer is not a lender, so how the F am I suppose to refi my home that has lost more than 100k in equity??? I guess we need jobs at FHFA
Salary ranges for FHFA positions are as follows:
Entry-Level (Grades EL – 5/7/9): $36,711 to $93,465
Journeyman (Grades EL-11 – EL 14): $71,610 to $180,501
Managers and Experts (Grade EL-15): $128,811 to $218,978