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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 , , , , , , , , , , ,

Oregon’s SB 1552 Analyzed – Mandatory Mediation and More!

Posted on by Phil Querin

On March 5, 2012, the Oregon Legislature passed a sweeping series of changes to its trust deed foreclosure law, SB 1552.  Once signed by the Governor it will become effective 91 days hence.  What follows is a summary of (a) the new mandatory mediation law that, after the effective date, will apply to the non-judicial […]

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Posted in Deed in Lieu of Foreclosure, Financial Crisis, Foreclosure, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, Miscellany, Mortgage Insurance, Real Estate/Distressed, Short Sales | Tagged , , , , , , ,

Belial Bank Bemoans The James Decision (Part II) and Oregon’s SB 1552 (2012)

Posted on by Phil Querin

In a hastily convened telephone conference, B.L. Zebub, Belial Bank’s devilish, but distraught, leader, queries the attendees on the remarkable [some might say “miraculous”] turning of the tide [which some might liken to the parting of the Red Sea] for Bantam Borrowers over the past couple of weeks in Oregon.  Since such analogies smack of […]

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

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

Posted on by Phil Querin

[This post is the second in a two-part discussion of the recent case of James vs. MERS, et. al. The full text of Judge Simon’s decision can be found here.  The link to Part One of my analysis can be found here.  Besides the sheer joy of (metaphorically) poking my finger in the eyes of […]

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Posted in Financial Crisis, Foreclosure, Foreclosure Mills, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Servicers, Tax Issues, Trust Deeds | 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 , , , , , , , , ,

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 , , , , , , , , , , ,

Sharpe vs. Wells Fargo Home Mortgage – A Critical Analysis

Posted on by Phil Querin

Hypocrisy: [c.1200, ipocrisie, from O.Fr. ypocrisie, from L.L. hypocrisis, from Gk. hypokrisis “acting on the stage, pretense,” from hypokrinesthai “play a part, pretend….” Online Etymology Dictionary] Example: When banks lend money today, they demand absolute transparency of their borrowers. Every “T” must be crossed and “I” dotted.  Signatures, income, credit, employment, all must be verified and re-verified to the nth degree. But […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, Foreclosure Mills, GSEs, Legislation - Oregon, MERS, Miscellany, Real Estate/Distressed, Servicers, Trust Deeds | Tagged , , , , , , , , , ,

The Deed-In-Lieu-of-Foreclosure: A Solution Whose Time Has Come

Posted on by Phil Querin

As we know, until recently, the vast majority of foreclosures in Oregon were conducted non-judicially, by advertisement and sale.  However, due to the McCoy and Hooker decisions,[1] the efficacy of this method of foreclosure has been placed in doubt. The proposal described below suggests that before filing judicial foreclosures, homeowners be offered an opportunity to […]

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Posted in Deed in Lieu of Foreclosure, Financial Crisis, Foreclosure, Lenders, Market Conditions, Miscellany, Real Estate/Distressed | Tagged , , , , , , , , , ,
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