← Older postsNewer posts →

Oregon Realtor® Warning: Sending Trust Money Out Of State

Posted on by Phil Querin

Introduction. As we know today, there are many bank-owned properties being listed and sold.  A term commonly used to refer to these homes are REOs, i.e. “Real Estate Owned.”  After a lender forecloses a home, it takes it back into its REO inventory, prepares and lists it for sale.  Most of the heavy lifting is […]

Continue reading “Oregon Realtor® Warning: Sending Trust Money Out Of State” »

Posted in Financial Crisis, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Realtors | Tagged , ,

Oregon Realtors: Use Caution When Representing Buyers of REO Properties

Posted on by Phil Querin

By now, most Realtors® have heard the rumblings about defective bank foreclosures in Oregon and elsewhere.  What you may not have heard is that these flawed foreclosures can result in potential title problems down the road. Here’s the “Readers Digest” version of the issue:  Several recent federal court cases in Oregon have chastised lenders for […]

Continue reading “Oregon Realtors: Use Caution When Representing Buyers of REO Properties” »

Posted in Foreclosure, Legislation - Oregon, Miscellany | Tagged , , , , , , ,

Mr. Bevilacqua and the “Brooklyn Bridge Problem”

Posted on by Phil Querin

From the same court that brought us U.S. Bank Association, Trustee v. Ibanez, earlier this year, it now appears we will soon hear from the Massachusetts Supreme Judicial Court again. This time the issue deals with what happens to title after a bank completes a procedurally improper foreclosure. Ibanez ruled that a foreclosure by U.S. […]

Continue reading “Mr. Bevilacqua and the “Brooklyn Bridge Problem”” »

Posted in Foreclosure, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Servicers, Trust Deeds | 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 […]

Continue reading “Why People Are So Angry At the Lending and Servicing Industries – Part Two” »

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

Smackdown! Court Denies LaSalle Bank’s Right of Foreclosure For Violation of PSA

Posted on by Phil Querin

“Oh what a tangled web we weave, when first we practice to deceive.” Sir Walter Scott (1771-1832) This holding was inevitable. It has been the subject of my numerous posts, here, here, and here.  Sooner or later courts would begin to actually “connect the dots” from (a) the bank claiming the right of foreclosure back to […]

Continue reading “Smackdown! Court Denies LaSalle Bank’s Right of Foreclosure For Violation of PSA” »

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

A Bad Day At The (Foreclosure) Mill

Posted on by Phil Querin

SLAM!  BANG! Her: “Honey, is that you?” Him: “Yeh.” Her: “Another bad day at the Firm?” Him: “Bad?  Hellish!” Her: “Is that alcohol on your breath?  Have you been drinking at Lucifer’s Lounge with the other associates again?” Him: “Yeh, it’s Friday, and we just go to shoot the breeze.  Everyone’s pretty stressed out these […]

Continue reading “A Bad Day At The (Foreclosure) Mill” »

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

Belial Bank Telephone Conference Discussing MERS and the McCoy Case

Posted on by Phil Querin

[Caveat:  As recited on my website, Q-Law.com, unless expressed otherwise, all contents are solely those of the author 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] As succinctly stated by […]

Continue reading “Belial Bank Telephone Conference Discussing MERS and the McCoy Case” »

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

What’s in Your REMIC?

Posted on by Phil Querin

Background. The residential loan market experienced tremendous growth between 2004 and 2007.  Lenders were able to accommodate millions of borrowers, because they quickly sold the loans they made into the secondary mortgage market, thus “recycling” their funds for further loans.  Initially, the secondary mortgage market was dominated by two major players, Fannie Mae and Freddie […]

Continue reading “What’s in Your REMIC?” »

Posted in Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Tax Issues, Trust Deeds | Tagged , , , , , , , , , , , , , ,

ROBO-SIGNERS WANTED – No Experience Necessary

Posted on by Phil Querin

“Why, anybody can have a brain. That’s a very mediocre commodity. Every pusillanimous creature that crawls on the Earth or slinks through slimy seas has a brain. Back where I come from, we have universities, seats of great learning, where men go to become great thinkers. And when they come out, they think deep thoughts […]

Continue reading “ROBO-SIGNERS WANTED – No Experience Necessary” »

Posted in Foreclosure, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Tax Issues, Trust Deeds | Tagged , , , , , , ,

Cosmic Mysteries – The Loan Servicer Decision-Making Process

Posted on by Phil Querin

(What follows is a hypothetical scenario.  It is based upon at least 50 recent interviews with clients involved in distressed housing transactions as well as multiple conversations with local Realtors who have represented sellers trying to get out from under a mortgage they can no longer afford.  The mystery of course, is how and why […]

Continue reading “Cosmic Mysteries – The Loan Servicer Decision-Making Process” »

Posted in Miscellany, Real Estate/Distressed | Tagged , , ,
← Older postsNewer posts →
  • Categories

  • Archives