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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 , , , , , , , , ,

Do You Know Who Just Read Your Hardship Letter?

Posted on by Phil Querin

  Have you ever been curious about what “test” the Big Banks apply when deciding to allow short sales?  I have.  What follows is my analysis only.  Readers are free to disagree; but remember, a couple of anecdotal stories overheard at a cocktail party, do not a trend make.  There are rules and there are […]

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Posted in Deficiency Liability, Foreclosure, Legislation - Oregon, Lenders, Loan Modifications, Miscellany, Real Estate General, Real Estate/Distressed, Realtors, Refinancing, Servicers, Short Sales | Tagged , , , , , , , , , , , , , ,

Distressed Homeowners’ Bill of Rights

Posted on by Phil Querin

Having counseled approximately two hundred Oregon homeowners drowning in negative equity, I have discovered that many, if not most, believe that somehow their lenders can literally swoop down and take not only their home, but all of their bank accounts, savings, retirement funds, and/or daily wages.  In truth, the only real power most banks have […]

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Posted in Deficiency Liability, Foreclosure, Legislation - Oregon, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Short Sales, Strategic Default, Trust Deeds | Tagged , , , , , , , , , , , , , , , , ,

Triage Time At Belial Bank – U.S. Bank vs. Flynn

Posted on by Phil Querin

“…any assignments of the beneficial interest must be recorded in order for a non-judicial foreclosure to comply with the Oregon Trust Deed Act.  The defendant [borrower] presented evidence in Exhibit 104 that by December 4, 2009, and apparently through December 11, 2010, Freddie Mac was the owner of the mortgage and therefore the holder of […]

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Posted in Belial Bank, Foreclosure Mills, Miscellany, Real Estate/Distressed, Servicers, Short Sales, Trust Deeds | Tagged , , , , , , , , , , ,

Exclusive Interview with Belial Bank’s Chief Lobbyist and PR Man Ѱ

Posted on by Phil Querin

Regretfully, I cannot disclose how the following transcript fell into my hands.  I have guaranteed the complete anonymity of my source, who participated in the surreptitious recording of a recent face-to-face interview with Kenneth Y. Slick, III, chief lobbyist and head of public relations for Belial Bank.  Mr. Slick has been affiliated with Belial Bank […]

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

Why People Are So Angry At the Lending and Servicing Industries – Part Two

Posted on by Phil Querin

The opinions expressed below are mine alone and do not necessarily reflect the opinions of PMAR, its officers, directors, employees or members.  If anyone should feel that any statements of  fact are incorrect, you are invited to discuss with me. – PCQ Oregon’s Trust Deed Foreclosure Law. It is widely known that during the credit/housing […]

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

MARS Attacks! Oregon Realtors® Take Cover

Posted on by Phil Querin

“We come in peace.” For those who have seen the 1996 movie, “Mars Attacks!” there is a certain metaphorical similarity between the movie and the recently enacted federal law.  Both the federal law and the Martians initially seemed relatively harmless to law-abiding citizens.  But alas, once again, life has imitated art…. Background. The Mortgage Assistance […]

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Posted in Foreclosure, Legislation - Federal, Legislation - Oregon, Market Conditions, Miscellany, Real Estate General | Tagged , , , , , , ,

Round One: Barnett v. B of A and ReconTrust – Slapdown!

Posted on by Phil Querin

Kelly Harpster, formerly a young brainiac associate from Davis Wright Tremaine, my alma mater, who left to make her mark on the Portland legal scene, is coming along just fine, thank you.  Attached here is her legal memo in support of a Motion for a Temporary Restraining Order (“TRO”) against Bank of America and ReconTrust, […]

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Posted in Foreclosure, Lenders, Miscellany, Real Estate General, Real Estate/Distressed, Trust Deeds | Tagged , , , , , , , ,

Belial Bank – Employee Manual (Loan Modification Calls)

Posted on by Phil Querin

[Caveat:  As recited on my website, Q-Law.com, unless expressed otherwise, all post are solely my responsibility and do not necessarily represent the views of my clients.  This post is for entertainment purposes only.  Truth, like beauty, is in the eyes of the beholder. The satire is mine. – PCQ] Chapter 666 – Loan Mod Callers This […]

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

The Lenders’ Helpline – A Journey Through the Eighth Circle of Hell

Posted on by Phil Querin

“Abandon all hope, ye who enter here” – Dante’, The Divine Comedy (Inferno) [What follows is an abbreviated version of a recent telephone conversation I had with the helpline support folks for a major lender. I was trying to help a client who had recently received a notice of foreclosure, although she was current on […]

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