Category Archives: MERS

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MERS Smackdown! Niday Analyzed – Part Two

Posted on by Phil Querin

This is the second post of two, analyzing the recent Oregon Court of Appeals ruling on MERS.  The first post can be found here.  The Court’s written decision can be found here. Issue Two Can MERS act as a “Nominal Beneficiary” in the trust deed for purposes of avoiding the requirement under  ORS 86.735(1) that […]

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Posted in Financial Crisis, Foreclosure, Lenders, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Servicers, Trust Deeds | Tagged , , , , , , ,

MERS Smackdown! Niday Analyzed – Part One

Posted on by Phil Querin

In the first Oregon appellate court ruling on the issue, the Court of Appeals, addressed, head on, whether MERS may be appointed as the “beneficiary” in an Oregon trust deed, for purposes of avoiding the law. The full opinion may be accessed here. The decision, written by Justice Lynn R. Nakamoto’s was a “textbook” opinion; […]

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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 , , , , ,

Oregon’s Mandatory Mediation Law – The Timelines

Posted on by Phil Querin

Foreclosure today is not what it used to be.  In the past, banks and borrowers tried to avoid foreclosure, since it was a lose-lose proposition for both sides. Today, that is not the case.  With the advent of securitization, Big Banks discovered several things: (1) That they could make loans for which they were promptly […]

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

Another MERS Slapdown! The Recent James Case Analyzed (Part One)

Posted on by Phil Querin

“In Roman mythology, the god Janus, for whom each year’s first month is named, was the deity of beginnings and endings. According to legend, the titan Saturn gave the two-faced god the power to see both the future and the past. Romans carved both of Janus’ two faces on gates and doorways to solemnize momentous […]

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Posted in Financial Crisis, Foreclosure, Foreclosure Mills, Legislation - Oregon, Lenders, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Servicers | Tagged , , , , , , , , , , , ,

Oregon’s Lender Lobby – The “Gut & Stuff”

Posted on by Phil Querin

Well, the stealthy lending lobby is up to its old tricks.  Just as they did in the 2011 Oregon Regular Session, they prefer to work quietly in the cloak room.  But should we be surprised?  Honest work can be conducted in the open, only those fearing detection, confrontation, and truth, operate in the shadows. Senate […]

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Posted in Financial Crisis, Foreclosure, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Servicers, Trust Deeds | Tagged , , , , , , , ,

Oregon to Sign on to 50-State AG Settlement

Posted on by Phil Querin

Word has it that Oregon has agreed to sign on to the 50-state attorneys general settlement with five of the country’s largest banks: Bank of America, J.P. Morgan Chase, Wells Fargo, Ally Financial, and Citi Group.  As in all settlements, neither side will be completely satisfied, and this time is no different.  But it is […]

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Posted in Deed in Lieu of Foreclosure, Financial Crisis, Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Realtors, Refinancing, Servicers, Short Sales, Trust Deeds | 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 , , , , , , , , , , ,
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