by Calculated Risk on 6/25/2009 04:11:00 PM
Thursday, June 25, 2009
Market and LO Quiz
A few stories too ... a major auto supplier is near bankruptcy ...
From Dow Jones: Lear Corp. Working On Prepackaged Bankruptcy - Sources
Lear Corp. (LEA), a maker of automotive seats and interior electronics, is working on a pre-packaged bankruptcy five days before it must make a $38 million interest payment on two of its bonds ... If the prepackaged bankruptcy deal falls apart, Lear could file for a traditonal-style bankruptcy next week ... The company has also lined up debtor-in-possession financing with its lenders ...From MarketWatch: Fitch downgrades California to A-minus
Fitch Ratings downgraded the California's general obligation credit rating on Thursday to A-minus from A, based on the magnitude of the state's financial challenges and persistent weakening economy.
This graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears".
Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.
And Jillayne Schlicke (of CEForward.com) brings us a few sample questions provided by the National Mortgage Licensing System for the new national loan originator exam: Will the New National Loan Originator Exam be Too Easy?. Here are the first two of six questions she posted:
If an applicant works 40 hours every week and is paid $13.52 per hour, what is the applicant’s monthly income?Take the test.
(A) $2,163.20
(B) $2,343.47
(C) $2,379.52
(D) $2,487.68
The requirement for private mortgage insurance is generally discounted when the loan-to-value ratio falls below:
(A) 20%
(B) 50%
(C) 80%
(D) 90%