← Older posts

Borrower Exposure to Deficiency Risk

Posted on by Phil Querin

“To be forewarned is to be forearmed.” The term “deficiency” arises in the context of a borrower’s default to their lender.  It refers to the difference between what the lender/servicer recovers, e.g. through short sale, deed-in-lieu-of-foreclosure (“DIL”), or foreclosure, and the total debt owing.  Let’s go through each one, and see how and when the […]

Continue reading “Borrower Exposure to Deficiency Risk” »

Posted in Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Subprime Crisis, Trust Deeds | Tagged , , , , , , , , , , ,

Belial Bank’s 2012 Holiday Planning Meeting

Posted on by Phil Querin

Following a rough and tumble year in the banking industry, Belial Bank’s feckless fearless leader, B.L. Zebub, believes it is high time to bring some levity and loyalty to the lowly troops who have been tirelessly foreclosing all the Beleaguered Borrowers they may have missed the first and second time around.  Mostly, however, B.L. is […]

Continue reading “Belial Bank’s 2012 Holiday Planning Meeting” »

Posted in B. L. Zebub, Belial Bank, Deficiency Liability, Financial Crisis, Foreclosure, Foreclosure Mills, Legislation - Federal, Lenders, Market Conditions, MERS, Real Estate/Distressed, Realtors, REOs, Servicers, Subprime Crisis, Tax Issues | Tagged , , , , , , , , , , , , , , , ,

Portland Metro Housing Prices – The Last Five Years [Part Two]

Posted on by Phil Querin

This is the second installment of my article looking back over the past five years at Portland housing statistics.  Part One examined the real reason for the housing crisis which officially commenced in 3Q 2007, and looked at the historic numbers for average and median (i.e. “mean”) sale prices according to the RMLS™. The link […]

Continue reading “Portland Metro Housing Prices – The Last Five Years [Part Two]” »

Posted in Deed in Lieu of Foreclosure, Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Realtors, Refinancing, REOs, Servicers, Short Sales, Subprime Crisis, Subprime Mortgages, Trust Deeds | Tagged , , , , , , , , , , , , , , , , , , , ,

Portland Metro Housing Prices – The Last Five Years [Part One]

Posted on by Phil Querin

Background – 3Q 2007.  Looking back, August 2007 was a memorable month, filled with good news and bad.  Based upon RMLS™ numbers, it was a statistically impressive month for closed residential transactions in the Portland Metro area.  The bad news was that it was the last such month we were to see. From that point […]

Continue reading “Portland Metro Housing Prices – The Last Five Years [Part One]” »

Posted in Financial Crisis, Foreclosure, Lenders, Market Conditions, Miscellany, Ratings Agencies, Real Estate/Distressed, Realtors, REOs, Short Sales, Subprime Mortgages | 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 , , , , ,

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 , , , , ,

Judicial or Non-Judicial? Belial Bank Debates How to Foreclose Oregon Homeowners – Part Two

Posted on by Phil Querin

When we last left this telephone conference in Part One, Damien Faust, chief legal counsel for Belial Bank, was regaling everyone with his brilliance in creating the following legal provision that the Big Banks had quietly inserted into every lender’s trust deed forms: “Borrower understands and agrees that MERS holds only legal title to the […]

Continue reading “Judicial or Non-Judicial? Belial Bank Debates How to Foreclose Oregon Homeowners – Part Two” »

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

Judicial or Non-Judicial? Belial Bank Debates How To Foreclose Oregon Homeowners – Part One

Posted on by Phil Querin

Once again, the best and brightest minds in the banking, servicing, and title industries are on yet another conference call discussing the latest events in the ever-changing legal landscape of Oregon foreclosures.  Although Belial Bank’s President and CEO, B.L.Zebub, believes that the sun, moon, and stars are lining up in their favor, he still has […]

Continue reading “Judicial or Non-Judicial? Belial Bank Debates How To Foreclose Oregon Homeowners – Part One” »

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

Continue reading “Do You Know Who Just Read Your Hardship Letter?” »

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

An Alternative To Judicial Foreclosures In Oregon

Posted on by Phil Querin

The Conundrum. In Oregon we have a foreclosure conundrum:  ORS 86.735(1) requires lenders to record all successive trust deed assignments when non-judicially foreclosing a trust deed.  However, lenders have routinely either lost, never created, or destroyed, their trust deed assignment documents during the securitization frenzy of 2005 – 2007. This means that starting with the subprime […]

Continue reading “An Alternative To Judicial Foreclosures In Oregon” »

Posted in Deficiency Liability, Financial Crisis, Foreclosure, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Trust Deeds | Tagged , , , , , ,
← Older posts
  • Categories

  • Archives