Category Archives: Lenders
← Older postsBig Bank Bashing – Waahhh!
February 2, 2014 by Phil Querin
On January 28, 2014, Sergio Ermotti, chief executive of UBS AG, was fed up. While visiting swanky Davos Switzerland [referred to in a New York Magazine article as “…the annual self-congratulatory kaffeeklatsch known as the World Economic Forum”] he vented. Like Howard Bealle in Network, he was ‘mad as hell and not going to take this anymore!’ What […]
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Posted in Dodd-Frank, Federal Regulation, Financial Crisis, Legislation - Federal, Lenders, Miscellany, Real Estate Laws, Residential Housiing, Servicers | Tagged Bank Ethics?, Financial Crisis, Wall StreetDeath By A Thousand Tweets: J.P. Morgan’s Excellent Adventure In Social Media
November 14, 2013 by Phil Querin
This story is just too funny to ignore. The PR department of JPMorgan Chase & Co. (JPM), one of the Big Banks in perennial trouble with the Justice Department [eight current investigations – but who‘s counting?], came up with what they believed to be a whiz-bang idea to shine their tarnished image: Set up a […]
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Posted in Lenders, Miscellany | Tagged Bank Ethics?, BanksBig Banks, Loan Fraud, and Moral Equivalence – Part Two
October 18, 2013 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 […]
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Posted in Lenders, Market Conditions, Miscellany, Mortgage Insurance, Ratings Agencies, Real Estate General, Real Estate/Distressed, Servicers, Subprime Mortgages | Tagged Bank Ethics?, Banks, Financial Crisis, Market Conditions, Real Estate, SecuritizationBig Banks, Loan Fraud, and Moral Equivalence – Part One
October 18, 2013 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….
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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 Bank Ethics?, Banks, Financial Crisis, Market Conditions, Mortgages, Securitization, Wall StreetThe Real Story Behind Justice’s Decision to Sue S&P
February 24, 2013 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 […]
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Posted in Fannie&Freddie, Financial Crisis, GSEs, Legislation - Federal, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Subprime Mortgages | Tagged Banks, Fannie & Freddie, Financial Crisis, Market Conditions, Securitization, Wall StreetJPMorgan Chase’s Venture Back Into The Private Label Secondary Market
February 23, 2013 by Phil Querin
“Those who ignore history are doomed to repeat it.” Adapted from quote by George Santayana (1863-1952) Well, well, well. According to a recent article in Bloomberg.com, it appears that JPMorgan Chase is going to try skating across the frozen private label pond once again. For those with any recollection of what caused the collapse of the […]
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Posted in Dodd-Frank, Fannie&Freddie, Financial Crisis, GSEs, Lenders, Miscellany, Ratings Agencies, Subprime Crisis, Subprime Mortgages | Tagged Banks, Financial Crisis, Market Conditions, Securitization, Wall StreetBorrower Exposure to Deficiency Risk
January 28, 2013 by Phil Querin
“To be forewarned is to be forearmed.” The term “deficiency” arises in the context of a borrower’s default to their lender. It refers to the difference between what the lender/servicer recovers, e.g. through short sale, deed-in-lieu-of-foreclosure (“DIL”), or foreclosure, and the total debt owing. Let’s go through each one, and see how and when the […]
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Posted in Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Subprime Crisis, Trust Deeds | Tagged Banks, Deficiency Liability, Distressed Transactions, Financial Crisis, Legislation - Oregon, Market Conditions, Modification, Mortgages, Promissory Notes, REOs, Short Sales, Trust DeedsHAMP, HARP, and Harpster
January 5, 2013 by Phil Querin
My fondness for alliterations compels the title. I could not resist. The purpose of this post is to welcome Lake Oswego attorney extraordinaire, Kelly Harpster, to the blogosphere – that vast otherworld known as the Internet, where one can accomplish two respectable goals: (a) Sharing important information on self-selected topics, and (b) doing so through […]
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Posted in Financial Crisis, Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed | Tagged Banks, Financial Crisis, Foreclosure, Legislation - Oregon, Market Conditions, MERS, Real Estate, Strategic DefaultBelial Bank’s 2012 Holiday Planning Meeting
December 9, 2012 by Phil Querin
Following a rough and tumble year in the banking industry, Belial Bank’s feckless fearless leader, B.L. Zebub, believes it is high time to bring some levity and loyalty to the lowly troops who have been tirelessly foreclosing all the Beleaguered Borrowers they may have missed the first and second time around. Mostly, however, B.L. is […]
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Posted in B. L. Zebub, Belial Bank, Deficiency Liability, Financial Crisis, Foreclosure, Foreclosure Mills, Legislation - Federal, Lenders, Market Conditions, MERS, Real Estate/Distressed, Realtors, REOs, Servicers, Subprime Crisis, Tax Issues | Tagged B.L. Zebub, Bank Ethics?, Belial Bank, Distressed Transactions, Financial Crisis, Foreclosure, Foreclosure Mills, Legislation - Oregon, Market Conditions, MERS, Mortgages, Rating Agencies, Realtors, REOs, Securitization, Servicers, Wall StreetBig Banks: The Illusion of Strength
December 3, 2012 by Phil Querin
“I don’t care about being strong; I just want to look strong.” [Heard in the gym from a steroid-infused bodybuilder] This statement could have been quietly uttered by any number of CEOs and CFOs today when speaking privately about their Big Banks. In an interesting Bloomberg article [“Breaking Up Banks Is Hard With Traders […]
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Posted in Fannie&Freddie, Financial Crisis, GSEs, Legislation - Federal, Lenders, Market Conditions, Miscellany, Subprime Crisis | Tagged Banks, Fannie & Freddie, Financial Crisis, Market Conditions, Wall Street
