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FAQ on Niday Ruling & MERS/Non-Judicial Foreclosures in Oregon

Posted on by Phil Querin

Compliments of several dedicated consumer attorneys, including Kelly Harpster, consumer attorney par excellence, and Sybil Hebb,lead attorney for the Oregon Law Center, a non-profit law firm for low income Oregonians, I am posting a Frequently Asked Questions publication discussing the recent Niday court ruling [which I have discussed here and here] as well as general issues regarding […]

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

More Nuts and Dolts

Posted on by Phil Querin

Economist [e·con·o·mist; noun] – An expert in the production, distribution and consumption of goods and services, but is a complete idiot when it comes to making good business decisions for homeowners awash in negative equity. Q-Law.com Unabridged Dictionary The following July 26, 2012 article appearing on a default servicing website, dsnews.com[1] caught my attention the […]

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Posted in Deficiency Liability, Financial Crisis, Foreclosure, Miscellany, Real Estate/Distressed, Short Sales, Strategic Default, Subprime Mortgages, Trust Deeds | Tagged , , , , , , ,

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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Posted in Financial Crisis, Foreclosure, MERS, Miscellany, Real Estate/Distressed | Tagged , , , , , , ,

Belial Bank Discusses Principal Write-Downs

Posted on by Phil Querin

Following the National Mortgage Settlement, B.L. Zebub, Belial Bank’s once fearless leader, is waffling on whether to jump into the fray, and start writing down the mortgage balances for his Beleaguered Borrowers.  Not that the milk of human kindness flows through his icy veins – he’s just trying to figure out an “angle” so he […]

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Posted in B. L. Zebub, Belial Bank, Deficiency Liability, Foreclosure, GSEs, Legislation - Federal, Loan Modifications, Miscellany, Real Estate/Distressed | Tagged , , , , , , , ,

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 , , , , ,

Belial Bank’s Derivatives Trading Desk

Posted on by Phil Querin

Following the Morgan Stanley Mess, B.L. Zebub, Belial Bank’s now skittish leader, begins to wonder if his own empire is “Too Big to Manage.”  In an effort to reestablish the appearance of control, and avoid having a “Dimon in the Rough” moment, he has hastily convened an emergency meeting.  In addition to the usual suspects, […]

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Posted in B. L. Zebub, Belial Bank, Financial Crisis, Foreclosure, Legislation - Federal, Market Conditions, Miscellany, Real Estate/Distressed | Tagged , , , , , ,

Big Banks – Too Big To Jail?

Posted on by Phil Querin

“To the dismay of many of Obama’s supporters, nearly four years after the disaster, there has not been a single criminal charge filed by the federal government against any top executive of the elite financial institutions.” Daily Beast, May 6, 2012. The Story. A few days ago, an interesting post appeared on the news and […]

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

Belial Bank Hires Gonzo Public Relations Firm!

Posted on by Phil Querin

After taking one on the chin, compliments of Federal Judge Michael Simon in James II, the bank we love to hate has decided it needs to polish its tarnished image.  B.L. Zebub, Belial Bank’s CEO and President for Life, has it in his head that a quick little reputational makeover will work wonders as he […]

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Posted in B. L. Zebub, Belial Bank, Financial Crisis, Foreclosure, Market Conditions, Miscellany, Mortgage Insurance, Real Estate/Distressed | Tagged , , , , , , , , ,
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