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

Big Banks: The Illusion of Strength

Posted on by Phil Querin

“I don’t care about being strong; I just want to look strong.” [Heard in the gym from a steroid-infused bodybuilder]    This statement could have been quietly uttered by any number of CEOs and CFOs today when speaking privately about their Big Banks.  In an interesting Bloomberg article [“Breaking Up Banks Is Hard With Traders […]

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Posted in Fannie&Freddie, Financial Crisis, GSEs, Legislation - Federal, Lenders, Market Conditions, Miscellany, Subprime Crisis | 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 , , , , , , , , , , , , , , , , , , , ,

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 […]

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

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

Posted on by Phil Querin

“Language and speech are the means by which people communicate with one another.  However, with the Big Banks, their silence conveys the loudest message.”  [Anonymous – sort of.] In Part One, I analyzed the recent Oregonian article, titled: “Lenders not engaging in Oregon foreclosure mediation program.”  The gist of my post addressed the process under […]

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Posted in Deed in Lieu of Foreclosure, Financial Crisis, Foreclosure, Legislation - Oregon, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Servicers, Short Sales | Tagged , , , , , , , , , , , ,

Big Bank Money Clients: Drug Dealers and Terrorists?

Posted on by Phil Querin

Federal Reserve: “Bank Secrecy Act and Money Laundering – Money Laundering involves transactions intended to disguise the true source of funds; disguise the ultimate disposition of the funds; eliminate any audit trail and make it appear as though the funds came through legitimate sources; and evade income taxes. Money laundering erodes the integrity of a nation’s financial […]

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Posted in Legislation - Federal, Lenders, Miscellany | Tagged , ,

A Curious Day At The Foreclosure Mill….

Posted on by Phil Querin

[Door Slamming] Her:  “Honey, is that you?  It’s awfully early for you to come home.  Are you ill?” Him: “Yeh, I know it’s early.  I’m OK. I just didn’t feel like working anymore.” Her: “What’s wrong?  Don’t you enjoy your work kicking people out of their homes anymore?   I thought you loved having Big Bank […]

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

Ratings Agencies Get Their Comeuppance – They’ve Been Downgraded! [Part One]

Posted on by Phil Querin

Even the most heinous of financial crimes are usually – if not always – the bi-product of willing participants.  Admittedly, there may be only one “evil genius” in the mold of Bernie Madoff, but invariably there are many willing enablers.  These are the peripheral players to whom we might contribute some degree of culpability or […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Lenders, Market Conditions, Miscellany, Ratings Agencies, Real Estate/Distressed | Tagged , , , , , , , ,
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