Category Archives: Financial Plan

It Is Now Easier To Get A Wachovia Loan Modification

It Is Now Easier To Get A Wachovia Loan Modification

Frustrated borrowers stuck with the risky and unaffordable Pay Option ARM loans may be getting a break on their applications for a Wachovia loan modification. The recent final approval for the purchase of Wachovia by Wells Fargo Bank may open the door for a more aggressive loan modification program for homeowners facing default on their mortgage loans. Prior to the announcement of the purchase, Wachovia had implemented a beneficial loan workout program that offered their clients a low, step rate loan modification to help them avoid foreclosure and stay in their homes.

However, during the finalization of the Wells Fargo take over, borrowers experienced an extremely uncooperative response when applying for a Wachovia loan modification. The previous program was discontinued, and borrowers were routinely told that Wachovia was not offering any type of loan modification program to needy borrowers. The most a homeowner could hope for was a payment deferral or repayment plan. These two options are short term solutions at best, and not beneficial to the majority of borrowers as a long term solution.

Now that shareholders have given the final approval for the buy out, predictions are that a more aggressive Wachovia loan modification program will be implemented to quickly resolve the high default rate on Pay Option ARM loans written for the majority of Wachovia customers. Wells Fargo $12.7 billion acquisition faces immediate stress as home foreclosures keep rising and unemployment forecasts paint a dim, and lengthy recession threat.

Wells Fargo now owns $482.4 billion dollars in a loan portfolio that will produce $60 billion in losses over the next three years, and about 60% of that will come from the Pay Option Arm mortgages. That is a big incentive to find a cost effective, far reaching and streamlined Wachovia loan modification program to help the lender get those bad loans off their books. Homeowners who have been facing a brick wall may now find that they will have the opportunity to obtain a loan workout to avoid foreclosure and stay in their home.

Borrowers trying to get a Wachovia loan modification will have to be patient and persistent for now. There is no time line in place yet, however homeowners who are actively pursuing a loan workout with Wachovia should stay the course and work within the current system so that they will be in position to move forward as soon as any new program is implemented. Wells Fargo will have to make some tough decisions on how to best write down these loans, but borrowers could see a real benefit as the lender moves forward to clean up the mess they inherited.

The Most Popular Job Roles In Finance

The Most Popular Job Roles In Finance

There is a plethora of jobs in the finance industry. Many finance jobs are centered around several primary professions such as commercial banking and investment banking. Naturally the most common jobs fall within those two categories. Currently, the more popular of the two is investment banking. Consequently, the most popular job roles in finance are positions in the investment banking arena.

Industry coverage is a large area covered by investment bankers who specialize in product groups such as utilities, aerospace, real estate, etc. This group has a group of senior bankers called Managing Directors which are backed by Directors, Vice Presidents and Associates. The managing director will help strategize the next move for the group as it grows and the team usually recruits new graduates into this group quite aggressively.

Corporate finance is an area with the primary function of raising money for corporate ventures. As an analyst in this group, you would be responsible for preparing registrations and attend road shows where investors are sold securities. Debt Capital Markets or Equity Capital Markets originate new issues of bonds or securities. They advise about the best time to issue these new debts or equities. Mergers and Acquisitions is yet another department which is under investment banking. Mergers and acquisitions generate fee income for investment banks. The bank sets up the acquisition even under market conditions that would make the acquisition unfavorable through creative methods that benefit all parties and the bank gets paid handsomely for their effort.

Project Finance help fund the infrastructure of a government or oil capital project, generally funneling funds from one foreign country to another when other options for borrowing have dried up. Trading is a job with which most of us are familiar. It is sales of securities on the stock market floor or from an office. Structured finance, derivatives, advisory, equity and fixed income research and international sales and emerging markets are other jobs that can be performed in investment banking.

Public finance, retail brokerage or stockbroker, institutional sales and ratings analyst are the remaining positions in investment banking. Many of these jobs are more glamorous than the others, but they all pay well. The most popular job roles in finance include any position in investment banking which comes with a hefty salary and many also pay bonuses. Commission often accompanies any position that generates sales to compensate for performance. Ratings analysts command an average annual salary of 68,000 with an average of 5,000 in bonuses. An exceptional employee should expect a higher salary. A managing director in Industry Coverage can command a salary of 130,000 to 220,000 annually. The job you pursue in Investment Banking will be your personal choice. Your compensation will be excellent and hopefully, you will find a home based on your talent and interests.

Jobs Opportunities In Financial Sector

Jobs Opportunities In Financial Sector

Skills for the financial sector

Employers recognize that any degree discipline will teach students skills that are vital in the financial sector, and they dont want to miss out on top graduates just because of their degree background. Degrees develop non-technical soft skills: qualities such as clear communication, the ability to analyze information, time management and good organization. Non-cognates often find that their degree subject complements their work in finance. For example, a modern language degree is helpful when talking to international clients; an arts degree is useful when report writing, and a medical background can provide insights when working in the specialist health care market.
Some non-cognates are put off from applying for finance roles because they feel that they will be at a disadvantage compared to their cognate colleagues. If you have some innumeracy, this wont be the case. Training schemes are designed to give all graduates a comprehensive knowledge necessary to do their work, regardless of their degree. Large employers typically provide ongoing training to ensure youre up to scratch.
Some areas of finance will require you to complete a professional qualification. Here again provisions are made for non-cognates, as the professional association will teach you the basics, while exempting cognate graduates from these courses.

Career in Financial Sector

A career in finance or Finance Job involves a whole range of functions, such as determining the impact of decisions that are made in nearly all-functional areas on the financial front. A Finance Job includes administering portfolios and formulating personal financial plans for investors, supervising banking operations, evaluating and suggesting companys capital budgets and strengthening bank relationships.
Finance Jobs generally do not necessarily require a bachelors degree in commerce or a closely related field. Sometimes it is possible to work your way up in finance career from an entry-level position, but higher positions usually require some further study.

Get Insurance For Adverse Financial Outcomes

Get Insurance For Adverse Financial Outcomes

In todays world people are very much familiar with the term insurance. Whether it is for life, health, vehicle, fire, disability or liability, insurance serves as financial tool for securing your life and property. It is a cover used for protecting you and your family from rising unexpected health expenses or certain life outcomes.

Simply we can say that insurance is used for managing the possible risks of future. It is an important part of your personal finance strategy. The money invested in insurance works like your emergency fund. It protects you from unforeseen circumstances for which you are not prepared. In this article, you will get to know why insurance is worth considering and how your financial needs are taken care by insurance policies.

Why insurance is taken?
It is important to understand that risk is a part of any persons life. Throughout your life you may face many kinds of risks such as financial losses, accidents, falling ill, etc. It is also necessary to know that risk increases as a person becomes old along with the increase in responsibilities. So, insurance is taken for such unexpected events and to maintain a good quality of life even while going through unforeseen adversities.

A rich person need not have insurance. Only the not so rich or poor need it to take care of his/her financial needs in unfavorable conditions. Insurance helps you to take care of the situations where large amount of funds may be required and it would be difficult or not possible to arrange money in that situation. So, in that condition, your financial needs are taken care by insurance.

Insurance is a security for your life and property
Every stage of your life needs insurance. Not taking insurance is like gambling with your savings. We believe that insurance is needed when income is low and financial needs are large, due to some negative outcomes. It is a good thing if you never have to en-cash insurance. Though insurance can take care of financial needs there will be still other non-financial negative outcomes that insurance cannot help.

With the help of insurance you can secure yourself and your family from unexpected and unfavorable conditions. Think practical and bear in mind that it is better to pay small premiums now than to pay huge amounts in future.

Plan to have adequate insurance
You should not take insurance as an investment tool, rather you must consider it as a personal financial tool that helps you to take care of your financial obligations and to maintain your familys living conditions, in the event of negative circumstances. A right kind of insurance with an adequate amount of coverage must be obtained. For this, you must evaluate your unique financial and family circumstances.

Having insurance is a way of protecting your quality of life and valuables. By this time you may have realized the importance of getting insurance to have financial peace even in unforeseen circumstances.

Bank Of America Loan Modification — A Simple Five Steps To Approval!

Bank Of America Loan Modification — A Simple Five Steps To Approval!

Have you been worried or even just concerned about meeting a high monthly mortgage payment? Perhaps you have been pondering negotiating for a better deal, such as a Bank of America loan modification period. This nationwide lending bank is now offering loan workarounds to some of its borrowers. You can improve your chances of getting the loan modification deal. If you meet certain approval requirements, you can lower your mortgage payment. Before you apply, you need to know about these Five Steps to Approval.

1.Study the Bank of America loan modification approval guidelines. To qualify for a loan workaround program, you must meet specific disposable income and debt to income ratios.

2.Collect all necessary documentation for the bank. A bank officer will review your documents to decide whether you qualify for a Bank of America loan modification. Be sure that you have everything before you apply, in order to avoid any possibility of delay or even denial of your application.

3.A Hardship Letter is an essential part of your document package. You must present convincing, compelling evidence that you have experienced or will suffer from a financial hardship due to your current mortgage payment. There are three essential elements in a Hardship Letter — be sure that you know what they are.

4.Take time to prepare, accurately and properly, the Bank of America loan modification application forms. Everything you state is subject to verification, and so you must include all important information, truthfully, to ensure that your loan workaround is given the maximum possible consideration for approval.

5.Be persistent. Eight weeks is not uncommon for processing time of your Bank of America loan modification application. So be patient as well! Even if you are declined the first time, do not give up. Many homeowners were able to get an initial rejection of their application overturned by being diligent, tenacious, focused, and persistent in their pursuit of an affordable mortgage. Your home is at stake, and a successful application allows you to keep your home.

By studying the guidelines; being diligent, complete and truthful in your application; and persisting in your qualification process, a Bank of America loan modification may well be yours. Take the time and invest the energy in doing the application properly, by understanding the bank’s approval guidelines. Ask any necessary questions for proper completion of the paperwork. Get the help you need and keep your home, as homeowners across the country continue to do. You too can do it!

What Is The True Meaning Of Finance

What Is The True Meaning Of Finance

The definition of finance is the provision of funds or loan supplied to an individual or company. Often this term is used for the study of economics and how money is controlled. It can be also defined as the management of funds and capital required by a business and private activities. Management of finance has also developed into a specialized branch within the financial sector and is carried out by finance managers.

Managing this involves dealing with the optimization and allocation of funds to various areas either by borrowing or by using those available from internal resources. The word Optimizing may sound strange but it refers to taking measures that minimize the cost of financing while simultaneously attempting to maximize the profits out of the employed finance. Bad debts are poor finance management where rules have not been followed; the result of this is depressed markets, low production and a cash crisis. It is for this very reason that finance managers are very careful with finance they agree too and where it is funded from.

It is not uncommon to hear finance managers referred to as bean counters as they are looking at immediate returns and initial costs against the potential at a later stage. Finance managers are the pessimists whereas sales managers are the optimists who look to the future and not to the past! Often though, problems occur with small businesses who fail to see the distinction between a business loan and a personal one. Most lenders will cancel the loan if they feel they have been deceived this way because they are unsure what the money is to be invested in.

Hopefully by educating the small (and large) business owners of their fiscal responsibilities they may build the basis of an improved company in the future. Small businesses can be very flexible, however, and call upon friends, other businesses, family members, even their own bank for finance.

Finance managers can help improve their company’s profits by using external sources which also lessens the risk on them at the same time. The famous comedian Bob Hope best summed up the subject when he once said; a bank is a place that will lend you money but only if you can prove that you don’t need it.

How to Improve the Management of Your Loan Modification and Short Sale Clients

How to Improve the Management of Your Loan Modification and Short Sale Clients

Applying for a short sale or a loan modification can be complex and time consuming, especially when managing numerous accounts at various stages of the process. Keeping the piles of paperwork for each client organized can be extremely difficult. Loan modification and short sale attorneys face this scenario every day and understand that dealing with such a sensitive financial situation leaves no room for error. New short sale and loan modification software solutions are available which provide excellent help regarding these issues.

Since homeowners come to a loan modification or short sale attorney expecting expertise and help, the attorney needs to demonstrate those qualities and ensure the homeowner that he or she is capable of managing the short sale or loan modification. The software available to attorneys will guide them through the short sale or loan modification process and ensure all -speed bumps- are overcome. It will act as a quality checker throughout each client’s entire process, which only boosts the credibility and trustworthiness of the attorney.

Completing paperwork by hand can be exhausting and keeping it organized can become challenging especially if the lender/servicer requires updated documentation. Short sale and loan modification software will help streamline the process by saving all paperwork electronically so it can easily be accessed at a later date. This eliminates the need to hand write every form and physically file it. Some short sale and loan modification software solutions will even auto-fill all of the necessary forms, making the process faster. These features will greatly improve the management of clients for any loan modification or short sale attorney.

Loan modification and short sale softwareis designed to help any homeowner through the complicated steps while ensuring all information is complete and accurate. For this reason, it can act as a supplement to any existing programs and procedures you and your team may have in place. It is also a very cost effective way to manage a large number of clients.

Using short sale and loan modification software could be the answer to your process and management troubles. With so many homeowners in need of quality help, it is imperative that you set yourself apart and prove you are the best attorney to save their home. A simple, inexpensive software solution could mean the difference between gaining a larger clientele and losing those who trusted in your expertise.

About Home Affordable Guide The Home Affordable Guide was created in 2009 by a team specializing in helping homeowners navigate through all government and in-house mortgage help programs. The Guide was designed to simplify and educate homeowners through the entire process of applying for a loan modification or short sale in five easy steps. To learn more about how the software can help your business, please visit:

Loan Modification Relieves Mortgage Payments

Loan Modification Relieves Mortgage Payments

A homeowner who is unable to keep up on their monthly mortgage payments can apply for a refinance, but if they are behind on their payments they may be turned down. Loans that carry a low interest rate are appealing to every homeowner, but not everyone who is buying a house can qualify for refinancing. The banks take into consideration the amount of equity in a home as well as calculating the mortgage insurance that is required on a conventional FHA loan. Although interest rates are low there a lot of owners who do not qualify for the refinancing options that can make paying their mortgage easier each month. An option that is open to many homeowners however is a modification to the existing loan. Through a lawyer a Las Vegas loan modification provides an alternative to refinancing that makes it easier to manage the mortgage payments.

An Alternative to Refinancing

A modification that is negotiated through a lawyer allows a homeowner to reduce their interest rate or extend the term of their mortgage contract. The result is a lower monthly house payment that makes it easier to manage all of the household expenses. Owners who have been in the same house for some time, but who have lost their equity due to the housing market collapse may be able to modify their loan by extending the term of the loan back out to 30 years. The balance that remains on the original loan is spread out over a longer term which allows the bank to lower the monthly payment. Interest rates that have dropped substantially over the past five years also allow an owner to adjust their current rate and see the savings that comes from paying less interest on their current loan. Because the banks are only willing to work with attorneys the only way to find debt relief is to contact a lawyer who can negotiate with the bank. Throughout Las Vegas, loan modification lawyers are helping people to manage their money by restructuring their mortgage without refinancing.

At The Schwartz Law Firm, our Las Vegas bankruptcy attorneys handle most types of bankruptcy filings on behalf of clients who are facing excessive debt, foreclosure, garnishment of wages or the failure of a small business. For Las Vegas, loan modification, contact us today! ()

A Market Data APIMaking an Interactive Financial Information Display Possible on Your Website

A Market Data APIMaking an Interactive Financial Information Display Possible on Your Website

Why do you need a market data API in order to display financial data on your website? An API is an Application Programming Interface, an essential part of the interactivity of Web 2.0. A programming interface is like a foreign language translator-It allows one computer operating on one system to talk to another computer operating on another system. Imagine how complex this can be when computer systems are communicating with market data. When you are providing financial information on your website for your visitors, APIs are necessary to display all but static, non-changing information.

Look for a market data solutions provider that can offer several different code-based APIs or SDKs (Software Development Kits) to ensure that you can connect with data feeds and tickers for real-time, delayed, end of day, and historical information. Having access to a .Net, Java, or COM/Win32 API will make this communication more easeful. APIs should have both a server side component as well as a client-side component.

Sample code should be provided with source code available for your tech team.

Consult with your tech team first to determine whether your system would most easily connect to a .NET, Java, or COM/Win32 API. Then find the market data solution firm that can provide the appropriate API for your system. If you need a .NET API to receive market data, make sure it is written in fully manageable C# code and built within a .NET 2.0 framework. If it is a Java API that you need, of course, make sure it is written in pure Java. No external native libraries will be needed. The Legacy COM/WIN32 API should be available from your market data solutions firm if your system requires this type of interface.

If this all sounds like a lot of mumbo jumbo to you, just make sure that the market data solutions company that you select offers complete code samples, documentation, and complete customized tech support, regardless of the market data API available. Broadcast feeds should come in a format that compresses and consolidates direct feeds from any exchange. Check to be certain that they offer financial data feeds in raw or original exchange format, utilizing HTTP transfer in XML, CSV, and FTP. And most importantly, make sure that the data you receive is the most timely, accurate data available. Your data solutions firm must provide reliable figures, with transactions, inserts, and corrections reported as they are reported by the exchanges. Visit BarchartMarketData.com, where you’ll find more information about each marketdata API available and how to get started on posting your own white-label financial data feed on your company’s website.

Colin Snider lives in New Orleans, Louisiana. He is a promoter for local venues, including concert venues and clubs, in the city. Football is his favorite sport and he is a hardcore Saints fan. He also enjoys trading and investing in the stock market and relies of end of day data to make financial decisions