← Older postsNewer posts →

Realtor Alert – Short Sale Fraud

Posted on by Phil Querin

Introduction. Recently there have been some anecdotal reports that real estate licensees, presumably with the knowledge and consent of sellers and buyers, have engaged in some practices that could be regarded, at best, as “sketchy.” Here is the issue: In some short sale transactions, there have been apparent instances of brokers not submitting repair addenda […]

Continue reading “Realtor Alert – Short Sale Fraud” »

Posted in Broker Risk Management, Legislation - Federal, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Realtors, Short Sales | Tagged , , , , ,

Strategic Default – Five Years Later

Posted on by Phil Querin

“Some borrowers default because they no longer possess the ability to repay their mortgage loans. However, there is a group of borrowers who may continue to possess the ability to repay but who elect to default for strategic reasons. These borrowers are commonly referred to as “strategic defaulters.” For purposes of this report, strategic defaulters […]

Continue reading “Strategic Default – Five Years Later” »

Posted in Deficiency Liability, Fannie&Freddie, Financial Crisis, Foreclosure, Legislation - Federal, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Servicers, Strategic Default, Subprime Crisis, Subprime Mortgages | Tagged , , , , , , , ,

Distressed Housing, Distressed Marriage

Posted on by Phil Querin

Over the course of the past two and one-half years, I’ve met with hundreds of folks experiencing the trauma of dealing with huge negative equity in their homes.  In lay terms, they’re “underwater” – meaning that the value of their home has dropped below what they paid, and frequently is now less than what they […]

Continue reading “Distressed Housing, Distressed Marriage” »

Posted in Deficiency Liability, Foreclosure, Miscellany, Real Estate/Distressed, Realtors, Short Sales, Tax Issues | Tagged , , , , , , , , ,

SB 1552 – Why Don’t The Big Banks Wanna Play? [Part Two]

Posted on by Phil Querin

“Language and speech are the means by which people communicate with one another.  However, with the Big Banks, their silence conveys the loudest message.”  [Anonymous – sort of.] In Part One, I analyzed the recent Oregonian article, titled: “Lenders not engaging in Oregon foreclosure mediation program.”  The gist of my post addressed the process under […]

Continue reading “SB 1552 – Why Don’t The Big Banks Wanna Play? [Part Two]” »

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

Recognizing Problem Short Sales Early

Posted on by Phil Querin

There are two types of short sales: (1) The relatively[1] easy ones that, while perhaps prolonged, ultimately will close; and, (2) The hard ones.  How can you recognize, in advance, what category yours will fall into?  What follows is a short discussion on what to look for. The first category of short sales consists of […]

Continue reading “Recognizing Problem Short Sales Early” »

Posted in Miscellany, Ratings Agencies, Real Estate General, Servicers | Tagged , , , , ,

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 […]

Continue reading “FAQ on Niday Ruling & MERS/Non-Judicial Foreclosures in Oregon” »

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 […]

Continue reading “More Nuts and Dolts” »

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

OREGON HOUSING: Multiple Offers – Then and Now

Posted on by Phil Querin

Introduction. For those Realtors® who were in the business in 2005 – 2007, multiple offers occurred fairly frequently.  Today, we are seeing them again.  However the circumstances are far different from before. The term “multiple offers” refers to situations in which sellers receive two or more offers to purchase their property.  The reason for multiple […]

Continue reading “OREGON HOUSING: Multiple Offers – Then and Now” »

Posted in Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Realtors, REOs, Short Sales | Tagged , , , , ,

Ratings Agencies Get Their Comeuppance – They’ve Been Downgraded! [Part Three]

Posted on by Phil Querin

In Parts One and Two I addressed the favored status of the ratings agencies in affecting all manner of financial instruments and investment decisions. But now, as an outgrowth of Dodd-Frank, the agencies’ impact appears to be on the wane. The new OCC regulations are figuratively airbrushing the ratings agencies out of the financial landscape. […]

Continue reading “Ratings Agencies Get Their Comeuppance – They’ve Been Downgraded! [Part Three]” »

Posted in Financial Crisis, Foreclosure, Lenders, Market Conditions, Ratings Agencies, Real Estate/Distressed, Subprime Crisis, Subprime Mortgages | Tagged , , , , , ,

Ratings Agencies Get Their Comeuppance – They’ve Been Downgraded! [Part One]

Posted on by Phil Querin

Even the most heinous of financial crimes are usually – if not always – the bi-product of willing participants.  Admittedly, there may be only one “evil genius” in the mold of Bernie Madoff, but invariably there are many willing enablers.  These are the peripheral players to whom we might contribute some degree of culpability or […]

Continue reading “Ratings Agencies Get Their Comeuppance – They’ve Been Downgraded! [Part One]” »

Posted in Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Lenders, Market Conditions, Miscellany, Ratings Agencies, Real Estate/Distressed | Tagged , , , , , , , ,
← Older postsNewer posts →
  • Categories

  • Archives