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Slapdown! – In Re: Jones v. Wells Fargo Home Mortgage, Inc.

Posted on by Phil Querin

“Wells Fargo’s conduct is clandestine. Rather than provide Jones with a complete history of his debt on an ongoing basis, Wells Fargo simply stopped communicating with Jones once it deemed him in default. At that point in time, fees and costs were assessed against his account and satisfied with postpetition payments intended for other debt […]

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

MERS Surrenders!

Posted on by Phil Querin

“You got to know when to hold ’em, know when to fold ’em, know when to walk away, know when to run” [The Gambler, by Kenny Rogers, 1978] This isn’t really late-breaking news.  It’s been under internal discussion for months, but now it’s official:  MERS is out of the foreclosure business.  Read the full story […]

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Posted in Bankruptcy, Belial Bank, Foreclosure, MERS, Miscellany | Tagged , , , , , , ,

The Meat of the Matter – In Re: Veal Analyzed

Posted on by Phil Querin

“When a note is split from a deed of trust ‘the note becomes, as a practical matter, unsecured.’ *** Additionally, if the deed of trust was assigned without the note, then the assignee, ‘having no interest in the underlying debt or obligation, has a worthless piece of paper.’” [In re Veal – United States Bankruptcy […]

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Posted in Bankruptcy, Foreclosure, Legislation - Oregon, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed | Tagged , , , , , , , , ,

Solutions to the Foreclosure Mess in Oregon

Posted on by Phil Querin

  Snidely Whiplash, Arch Villain, Rocky & Bullwinkle Cartoon This post follows on the heels of my discussion of Oregon’s Foreclosure problems, here. At this time, we know two things: (a) The lenders and servicers cannot change our trust deed foreclosure law to accommodate their foreclosure practice; and (b) In fact, they likely don’t have […]

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Posted in Foreclosure, Foreclosure Mills, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Realtors | Tagged , , , , , , , , , , , , ,

Another Bad Day At The Foreclosure Mill….

Posted on by Phil Querin

sat·ire/ˈsaˌtī(ə)r/Noun – The use of humor, irony, exaggeration, or ridicule to expose and criticize people’s stupidity or vices, particularly in the context of contemporary politics and other topical issues. Wikipedia [The following bit of satire is intended to be read immediately before or after my recent post regarding a class action lawsuit filed against Lender […]

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Posted in B. L. Zebub, Bankruptcy, Belial Bank, Foreclosure, Foreclosure Mills, Miscellany, Real Estate General, Real Estate/Distressed, Servicers | Tagged , , , , , , , , ,

In Re: Harris Analyzed – LPS And Its Pact With Foreclosure Mill Attorneys

Posted on by Phil Querin

“The effective use of the DSA’s [Default Services Agreements] between LPS Default and the national mortgage servicers resulted in LPS Default having under its control and concurrent access, the vast majority of the multibillion dollar default services fee market in the entire country.  This effectively put LPS Default in the position of Mephistopheles to its […]

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

In Re: Wilson Analyzed – Another Story Of Servicer Fraud On The Courts

Posted on by Phil Querin

“The fraud perpetrated on the Court, Debtors, and trustee would be shocking if this Court had less experience concerning the conduct of mortgage servicers. One too many times, this Court has been witness to the shoddy practices and sloppy accountings of the mortgage service industry. With each revelation, one hopes that the bottom of the barrel has […]

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Posted in Foreclosure, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Servicers | Tagged , , , ,

The Agard Case Analyzed – Another MERS Smackdown!

Posted on by Phil Querin

“Choisissez vos combat” It’s a rare day in the court system where a litigant wins a case and still comes out the big loser.  But MERS has managed the feat. [For a detailed background on MERS’ business model, see my earlier post here. – PCQ] In a recent bankruptcy case, In re: Agard, the U.S. […]

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Posted in Foreclosure, Lenders, Miscellany, Real Estate General | Tagged , , , , , ,

The McCoy Case Analyzed – MERS Smackdown!

Posted on by Phil Querin

“…the powers accorded to MERS by the Lender [whose name appears in the Trust Deed] – with the Borrower’s consent – cannot exceed the powers of the beneficiary.  The beneficiary’s right to require a non-judicial sale is limited by ORS 86.735.  A non-judicial sale may take place only if any assignment by [the Lender whose […]

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Posted in Foreclosure, Legislation - Oregon, Lenders, Miscellany, Real Estate General | Tagged , , , , , , , , , ,

2011 – Realtor® Best Practices For Short Sales

Posted on by Phil Querin

As the Realtor® industry enters into 2011, there is little question but that short sales are going to be around for a while. It will take at least two more years as excess inventory from all sources – banks, distressed owners (current and non-current with lender), unsold new construction, new condos, and sellers waiting on […]

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Posted in Deficiency Liability, Foreclosure, Lenders, Miscellany, Real Estate General, Real Estate/Distressed, Realtors, Tax Issues, Trust Deeds | Tagged , , , , , , , , , , , ,
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