| Stated Income Second Mortgages: Understanding No Income ...
Editor's Note: It can be tough for a self employed individual to get a loan. There are stated-income loans available that can change that. Here is an article on the subject: What is a stated income second mortgage? A stated income second mortgage is one that does not require the borrower to prove income stated on the application. This is most advantageous to self employed and contract workers who receive a 1099 instead of a W-2 as they would have a difficult time proving their income. Stated income mortgage loans are the most commonly used and usually the least expensive of the no documentation types of mortgages. Mortgage lenders understand that it is difficult for individuals who are self-employed or operate a one-person firm to verify their income. Different types of no income loans are offered including state income or no income verification loans.
US announces it has received enough H-1B petitions
New Delhi, April 05: The US immigration agency on Wednesday announced it has received enough H-1B petitions to meet the Congressionally mandated cap for fiscal 2008 and that it will use a random selection process for all cap-subject filings received on 2nd and 3rd April.
Every year, a large number of skilled Indian professionals come to the US under the H-1B visa scheme.
The US Citizenship and Immigration Services (USCIS) said it would reject all cap-subject H-1B petitions for FY 2008 received on or after Wednesday, 4th April and will reject and return along with the filing fee all cap-subject H-1B petitions that are not randomly selected.
On 2nd April, it began accepting applications, USCIS had received approximately 150,000 cap-subject H-1B petitions.
Morgan Stanley Net Rises to Record on Trading Gains (Update8)
March 21 (Bloomberg) -- Morgan Stanley, the world's second- biggest securities firm by market value, said first-quarter profit rose 70 percent to an all-time high on trading gains and a jump in investment-banking fees. Net income climbed to $2.67 billion, or $2.51 a share, in the three months ended Feb. 28 from $1.57 billion, or $1.48, a year earlier, the New York-based firm said today in a statement. Profit exceeded the highest estimate of 16 analysts surveyed by Bloomberg, and the company's stock rose the most in four years. Chief Executive Officer John Mack guided Morgan Stanley to record earnings last year and first-quarter results benefited from a 35 percent increase in trading revenue, a 25 percent jump in fees from advising companies and investment gains that almost tripled.
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