Will Someone Explain to Larry How the FHA Refinance Program Works

Larry has the FHA streamline refinance program all wrong. He is saying that it is helpful becuase the FHA streamline refinance program can be done without an appraisal. The loan officer who compares the FHA refinance to her dog food is suggesting that the fha lenders do not know how to calculate and FHA rate at the 5% payment amount without an appraisal. I will have to revist the FHA guidelines soon to determine that the FHA refinance is a helpful program when an appraisal is not required. Please post a comment to let me know if I am understanding the FHA refinance program correctly and if 5% is a nice rate or should I wait for a 4% rate on teh FHA streamline refinance program?

Today was my first day at Litton Loan Servicing Loss Mitigation Dept.

Today was my first day at Litton Loan Servicing loss mitigation department. I woke up early and went in to the office to get ready to help people avoid foreclosure with a loan modification. The days tarted off ok when I was given a few short sale and forbearance manuals to read. I read them and then I was instructed to talk to the angry people that called in for loss mitigation. They said that I should try to help them and then put then back on hold again. I kept doing this and we were all passing the people that were on hold at Litton Loan Servicing around one to another. Finally I had to talk to people becuase I could no longer put them on hold. I asked someone who has been there for six months how she handles it and she said that she hums the hold music and pretends that the people are still on hold. Apparently that works well for her because she has been there six months. Tomorrow is my next day at Litton Loan Servicing and I will report back about how that went too. Goodnight!