Category Archives: Real Estate/Distressed

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Altisource And Its New “Disruptive Enterprise Software”

Posted on by Phil Querin

In a recent article appearing at the online site “nationalmortgagenews.com” there appeared a short blurb titled “Altisource Opens Technology Office in India.” For those who have never heard of Altisource, they are one of the few major members on the Pantheon of Scoundrels, or POS, for short.  On their website, they proudly boast: Altisource provides services […]

Posted in Financial Crisis, Foreclosure, Market Conditions, Miscellany, Q-Rants, Real Estate/Distressed, Servicers | Tagged , , , , ,

Big Banks, Loan Fraud, and Moral Equivalence – Part Two

Posted on by Phil Querin

In Part One of my latest rant blog post, I took a look at the Big Banks and their sordid activities during the securitization heydays of 2005 – 2007/8. But I was just getting warmed up.  Part Two discusses how the banks have come to the aid of the prosecutors and courts in presenting themselves […]

Posted in Lenders, Market Conditions, Miscellany, Mortgage Insurance, Ratings Agencies, Real Estate General, Real Estate/Distressed, Servicers, Subprime Mortgages | Tagged , , , , ,

Big Banks, Loan Fraud, and Moral Equivalence – Part One

Posted on by Phil Querin

Introduction. As the Big Bank scandals appear to be diminishing, I’ll admit that it’s probably time to get over the RATs (Rapers of the American Taxpayers), and move on to other more uplifting topics for this blog site. Perhaps I will….

Posted in Financial Crisis, Legislation - Federal, Lenders, Market Conditions, Miscellany, Mortgage Insurance, Ratings Agencies, Real Estate General, Real Estate/Distressed, Residential Housiing, Subprime Crisis | Tagged , , , , , ,

2013 Short Sale FAQs [Part One]

Posted on by Phil Querin

The local and national real estate markets have been on the ropes for five years. The third quarter of 2007 was the statistical peak for housing prices in the Portland-Metro area.  From that point forward, the real estate market went into a downward spiral from which it has never fully recovered.  However, the third quarter […]

Posted in Deed in Lieu of Foreclosure, Deficiency Liability, Fannie&Freddie, Financial Crisis, Foreclosure, Foreclosure Mills, GSEs, Market Conditions, Miscellany, Real Estate/Distressed, Realtors, Servicers, Short Sales, Tax Issues | Tagged , , , , , , , , , ,

Mortgage Insurers – Short Sale Shakedown Artists

Posted on by Phil Querin

I’ve written several blog posts about the mortgage insurance (“MI”) problem.  Two of the several posts are found here and here. In many cases, MI is not purchased by the borrower, but by the lender – without the borrower’s knowledge and after the loan has already been made. This type of MI is technically referred […]

Posted in Foreclosure, Miscellany, Ratings Agencies, Real Estate/Distressed, Servicers, Short Sales | Tagged , , ,

IRS Fresh Start Program

Posted on by Phil Querin

I just ran across an interesting post on the website JDSupra, authored by attorney Mary Beth Lee, of the San Francisco-based law firm Duane Morris LLP, describing the IRS’s apparent attempt to sell hope rather than sow fear. For those folks still digging out from the financial woes visited upon many over the past five years, […]

Posted in Financial Crisis, Miscellany, Real Estate/Distressed, Tax Issues | Tagged

AIG – Hapless Victim or Reckless Ingrate? (Part One)

Posted on by Phil Querin

Background.  The Big Banks, their excesses, and the stories of their rapacious greed, are slowly receding into the rearview mirror of memory, like an Elm Street nightmare. We all know how it ended; the federal government bailed them all out to the tune of $445 billion.  Some accepted the money begrudgingly, saying they were forced […]

Posted in Financial Crisis, Foreclosure, Miscellany, Ratings Agencies, Real Estate/Distressed, Subprime Crisis, Subprime Mortgages | Tagged , , , , , , , ,

The Real Story Behind Justice’s Decision to Sue S&P

Posted on by Phil Querin

Regrettably, I cannot disclose the source that provided me with this purloined post. ~ PCQ Lead Chief Counsel:  “OK, everyone, I think we’re ready to start.  You were emailed the agenda last week, so there should be no surprise what today’s topic is: How to convince the American public that we have the cajones to go […]

Posted in Fannie&Freddie, Financial Crisis, GSEs, Legislation - Federal, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Subprime Mortgages | Tagged , , , , ,

The Importance of Servicer-Realtor® Relationships in Short Sales

Posted on by Phil Querin

The online newsletter Mortgage Servicing News carried an interesting article that Realtors® should reprint and carry around in their pocket or purse.  It was titled: “Servicer-Realtor Exchanges Can Boom or Bust Short Sales” and can be found online here.  The premise of the article is smart, short and simple: Servicers should work closely with good […]

Posted in Market Conditions, Miscellany, Real Estate/Distressed, Realtors, Short Sales | Tagged , , ,

Short Sale Fraud – Hard Time For A Bogus Hardship

Posted on by Phil Querin

January 29, 2013 was a very bad day for Diane Hathaway.  That was the day she pled guilty to bank fraud, committed in the course of securing her lender’s consent to a short sale of her Michigan manse in Gross Pointe Park.  The home reportedly carried a $1.4 million mortgage with online bank, Ing Direct,[1] […]

Posted in Miscellany, Real Estate/Distressed, Short Sales | Tagged , , , , ,
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