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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 , , , , , , ,

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 , , , , , , , , ,

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 , , , , , , ,

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 , , , , , , , , , , , ,

Distressed Housing: This Too Shall Pass

Posted on by Phil Querin

[Caveats: 1. The following information is solely based upon Oregon law.  Residents from other states should not assume their laws will result in the same outcome. 2. This post is for informational purposes only and should not be relied upon as “legal advice” for your particular situation.  In all cases, you should consult with your […]

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Posted in Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Oregon, Miscellany, Real Estate/Distressed, Tax Issues, 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 , , , , , , , , , ,

MERS Musings – James v. ReconTrust, Bank of America, et. al. Analyzed [Part Two]

Posted on by Phil Querin

[This is Part Two of my post regarding the recent ruling by Magistrate Judge Stewart in the case of James v. ReconTrust, Bank of America, et. al.  here. Part One can be found here. – PCQ] Do All Assignments of the Deed of Trust Need to be Recorded? Mr. and Mrs. James argued that their […]

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Posted in Foreclosure, Legislation - Oregon, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Servicers, Trust Deeds | 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 , , , , , , , , , , , , , , , , ,
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