Category Archives: GSEs

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2005 – 2007: Big Bank Securitizations, Easy Credit, MERS, Housing, and the Foreclosure Crisis (Part Two)

Posted on by Phil Querin

[This is the second post in a 2-part series in which we take a not-so-nostalgic stroll down Memory Lane, revisiting the events that linger with us today – almost exactly five years after the collapse of the lender credit markets and the resulting cliff dive in housing prices.  The first post can be found here. […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Legislation - Federal, Market Conditions, MERS, Miscellany, Ratings Agencies, Real Estate/Distressed, REOs, Short Sales | Tagged , , , , , , , , ,

2005 – 2007: Big Bank Securitizations, Easy Credit, MERS, Housing, and the Foreclosure Crisis (Part One)

Posted on by Phil Querin

Introduction.  Well, it’s been nearly five years since the 3Q 2007 collapse of the credit and housing markets.  How time flies!  Are we having fun yet?  According to the Regional Multiple Listing Service (“RMLS™”) for the Portland Metro area, comparing January – April 2012 [the latest reporting period available at this time] with January – April 2011, […]

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Posted in Financial Crisis, Foreclosure, GSEs, Legislation - Federal, Lenders, Market Conditions, MERS, Miscellany, Ratings Agencies, Real Estate/Distressed | Tagged , , , , ,

Fannie & Freddie – A Model “Broken Beyond Repair”

Posted on by Phil Querin

FANNIE AND FREDDIE – SUCKLINGS ON THE PUBLIC TEAT According to a 2009 Vanity Fair article, in the 1980s Fannie Mae was “…one of  the largest, most profitable companies in the world, with a stock-market value of more than  $70 billion…*** (By comparison, G.M. at its peak, in 2000, was worth only $56 billion.)”   Today Fannie’s […]

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

‘Living Wills’ For Big Banks?

Posted on by Phil Querin

It has recently been reported that Big Banks must have ‘living wills’ in place by July, 2012.  In estate planning circles, a “living will” is a document one creates in the event they should later become incapacitated or incompetent, and are unable to make important decisions for their long term care.  More to the point […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, Foreclosure Mills, GSEs, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Refinancing, Servicers | Tagged , , , , , , , ,

Belial Bank Conference Call Discussing The Goodrich Decision & MERS

Posted on by Phil Querin

As we move into the New Year, our friends in the banking, servicing, and title industries have hastily convened a conference call to deal with the latest MERS setback in court.  It seems that when Fannie Mae sought permission to evict some folks from the home it had recently foreclosed, the local Jackson County Circuit […]

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Posted in Belial Bank, Deed in Lieu of Foreclosure, Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Legislation - Oregon, Lenders, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Servicers, Short Sales | Tagged , , , , , , , , , , ,

Belial Bank’s Conference Call Re: New Year’s Resolutions

Posted on by Phil Querin

As we approach 2012, our friends in the banking, servicing, and title industries are on their last conference call of the year; this time discussing how to put a better face on the banking industry.  Belial Bank’s President and CEO, B.L. Zebub, moderates. He has convened his trusted cronies to consider various schemes to cast […]

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Posted in B. L. Zebub, Belial Bank, Financial Crisis, Foreclosure, GSEs, Lenders, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Refinancing, Servicers | Tagged , , , , , ,

Sharpe vs. Wells Fargo Home Mortgage – A Critical Analysis

Posted on by Phil Querin

Hypocrisy: [c.1200, ipocrisie, from O.Fr. ypocrisie, from L.L. hypocrisis, from Gk. hypokrisis “acting on the stage, pretense,” from hypokrinesthai “play a part, pretend….” Online Etymology Dictionary] Example: When banks lend money today, they demand absolute transparency of their borrowers. Every “T” must be crossed and “I” dotted.  Signatures, income, credit, employment, all must be verified and re-verified to the nth degree. But […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, Foreclosure Mills, GSEs, Legislation - Oregon, MERS, Miscellany, Real Estate/Distressed, Servicers, Trust Deeds | Tagged , , , , , , , , , ,

Freddie’s Destruction Instruction Rule – The Epilogue

Posted on by Phil Querin

“The great thing about working at  ________________ Bank is that no one has to take personal responsibility for the institutionalized immorality of our industry.  We get up in the morning, go to work, and check our soul at the door. When we come home at night to our families, we can become human again, without […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Servicers | Tagged , , , , ,
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