Q-Rant! From The Lipstick On Pigs Department: Nationstar Becomes “Mr. Cooper”

Posted on by Phil Querin

Prologue:  You can’t make this stuff up!  In an effort to shed its past transgressions, like a snake sheds its skin, Nationstar Mortgage has had a makeover that includes assuming a new name. It is now officially, “Mr. Cooper”. This redo, or in golfing parlance, “mulligan”, had been in the works for some time – […]

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Posted in Miscellany, Q-Rants, Satire, Servicers | Tagged ,

Ocwen, ‘Sticks & Stones’…And Gag Rules?

Posted on by Phil Querin

Nature seems to have given the biggest, meanest beasts pretty thick skins. Presumably, this is so they can savage their victims without being hurt themselves. Of course, these beasts were also endowed with a brain the size of a walnut, which didn’t help their dispositions. Between their thick skin and slow synapses, these monsters usually […]

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Posted in Miscellany, Q-Rants, Servicers | 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 […]

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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 […]

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

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

Posted on by Phil Querin

 “It’s one thing to be stubborn when relying on well-reasoned principle; it’s quite another to be stubborn relying on no principle.” Anonymous [Sort of.]    An interesting, though not surprising, article recently appeared in The Oregonian, titled: “Lenders not engaging in Oregon foreclosure mediation program.”  Before discussing what’s behind the banks’ decision, it is necessary […]

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

Oregon’s Lender Lobby – The “Gut & Stuff”

Posted on by Phil Querin

Well, the stealthy lending lobby is up to its old tricks.  Just as they did in the 2011 Oregon Regular Session, they prefer to work quietly in the cloak room.  But should we be surprised?  Honest work can be conducted in the open, only those fearing detection, confrontation, and truth, operate in the shadows. Senate […]

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Posted in Financial Crisis, Foreclosure, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Servicers, 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 , , , , , , , , , , ,

In Re: Wilson Analyzed – Another Story Of Servicer Fraud On The Courts

Posted on by Phil Querin

“The fraud perpetrated on the Court, Debtors, and trustee would be shocking if this Court had less experience concerning the conduct of mortgage servicers. One too many times, this Court has been witness to the shoddy practices and sloppy accountings of the mortgage service industry. With each revelation, one hopes that the bottom of the barrel has […]

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