Category Archives: Q-Rants

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Ocwen’s Heartfelt Apology – Ummm, Right!

Posted on by Phil Querin

According to a recent article in, titled “Ocwen posts open letter and apology to borrowers,” the widely reviled Ocwen, apparently (sob) guilt-ridden because it, once again, was caught doing what it does best –  taking advantage of the little guy.

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Posted in Miscellany, Q-Rants, Real Estate/Distressed, Residential Housiing, Servicers | Tagged , ,

Altisource And Its New “Disruptive Enterprise Software”

Posted on by Phil Querin

In a recent article appearing at the online site “” 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 […]

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

SunTrustMortgage – In Trouble With The Feds!

Posted on by Phil Querin

“SunTrust had no effective document management system in place to process and retain the borrowers’ applications and supporting documentation. When the HAMP applications poured in, SunTrust put them in stacks on the floor without organization. At one point, the stacks of opened and unprocessed HAMP applications were so voluminous that their weight buckled the floor.” […]

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Posted in Federal Regulation, Financial Crisis, Legislation - Federal, Loan Modifications, Miscellany, Q-Rants | Tagged , , ,

Q-Rant! Barney Defends Frankendodd!

Posted on by Phil Querin

Former Congressman Barney Frank testified before the House of Representatives Committee on Financial Services on Wednesday, arguing that the Dodd-Frank Wall Street Reform and Consumer Protection Act and the voluminous set of regulations that followed shortly thereafter was a positive for the economy and safeguarded the American public from ever having to face an economic down turn […]

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Posted in CFPB, Dodd-Frank, Federal Reserve, Financial Crisis, Legislation - Federal, Miscellany, Q-Rants | Tagged , , ,

Ocwen, ‘Sticks & Stones’…And Gag Rules?

Posted on by Phil Querin

Nature seems to have given the biggest, meanest beasts pretty thick skins. Presumably, this is so they can savage their victims without being hurt themselves. Of course, these beasts were also endowed with a brain the size of a walnut, which didn’t help their dispositions. Between their thick skin and slow synapses, these monsters usually […]

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Posted in Miscellany, Q-Rants, Servicers | Tagged

Ratings Agencies: Still Shilling for Shillings

Posted on by Phil Querin

The April 19, 2014 Economist reports [Credit where credit’s due] that the ratings agencies are making a financial comeback after their near-death experience following the financial crisis, circa 2007-2009.  For those readers who believed that Moody’s, S&P, and to a lesser degree, Fitch, were pure as the wind-driven snow, let me correct the record: During […]

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Posted in Miscellany, Q-Rants, Ratings Agencies, Subprime Crisis | Tagged ,

The Rule of Nobody: Reasons Behind Regulatory Complexity

Posted on by Phil Querin

Ever wonder why laws, rules and regulations keep growing, becoming more complex rather than less? Readers at this site know my feelings about Dodd-Frank (aka “FrankenDodd”) at 2,400 pages [not counting the thousands of pages of still unfinished rulemaking] and the Volker Rule at 900 pages.  Both laws grew out of a Congressional knee-jerk reaction […]

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Posted in Dodd-Frank, Federal Regulation, Legislation - Federal, Miscellany, Q-Rants | Tagged

FrankenDodd’s Collateral Damage: Banks Too Small To Succeed

Posted on by Phil Querin

As readers of this site know, I have no love lost for the Dodd-Frank Act.  To review my prior rants, go to posts here and here. The gist of my objection to the law is that it casts too wide a net.  It was created by politicians, bureaucrats, and regulators that had no real idea […]

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Posted in Dodd-Frank, Federal Regulation, Financial Crisis, Miscellany, Q-Rants | Tagged , , ,
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