Archive for October, 2012

By October 31, 2012 0 Comments Read More →

Fannie and Freddie Announce Agreements with Mortgage Insurers to Further Streamline Short Sales

Fannie Mae and Freddie Mac today announced agreements with all nine mortgage insurance companies, allowing servicers to move forward with short sales and deeds-in-lieu that meet the GSEs’ guidelines without first getting insurer approval. The delegation agreements are the latest in a series of steps by the GSEs to streamline the short sale process. In […]

Posted in: News and Events
By October 30, 2012 0 Comments Read More →

Wells Fargo Sends Refunds to Homeowners Tricked Into Expensive FHA-Backed Mortgages

HousingWire reports today that Wells Fargo has started sending $2,000 to $5,000 refund checks to homeowners who were wrongly placed in more expensive FHA-backed mortgages when they qualified for conventional loans. The catch? By accepting the payment, the homeowner gives up the right to sue.

Posted in: News and Events
Oliver v. Delta Financial: Pro-Se Attorney-Homeowner Gives Self Bad Legal Advice and Loses in Court
By October 30, 2012 0 Comments Read More →

Oliver v. Delta Financial: Pro-Se Attorney-Homeowner Gives Self Bad Legal Advice and Loses in Court

If advice is worth only what you pay for it, then Donald Oliver paid a fair price. Oliver, a practicing Oregon lawyer since 1982, filed a pro se complaint in Deschutes County Circuit Court last April asking the court to quiet title to his home. In laymen’s terms, Oliver was asking the court to turn […]

Posted in: Cases
2 Foreclosure Relief Scams Every Distressed Homeowner Should Know About
By October 28, 2012 0 Comments Read More →

2 Foreclosure Relief Scams Every Distressed Homeowner Should Know About

If you are a homeowner in default, then you are the target of thousands of scammers across the country who say they want to “help” you save your home. What they really want is your money. You may find them on the internet, or they may find you. Here is what you need to know […]

Posted in: Features
US Bank v Wright: Bank Must Prove Title in Ejectment Action Following the Foreclosure Sale That Never Happened
By October 28, 2012 0 Comments Read More →

US Bank v Wright: Bank Must Prove Title in Ejectment Action Following the Foreclosure Sale That Never Happened

In late 2009, Prineville resident John Wright received notice that he was in default on his mortgage loan and his home would be sold on the courthouse steps on April 26, 2010. Wright applied for a loan modification, but his request was denied two weeks before the sale for the curious reason that he was current […]

Posted in: Cases
By October 25, 2012 0 Comments Read More →

Embattled FHFA Director DeMarco May Finally Get the Boot

A last minute election tease from the White House or a glimmer of hope for the future? The Financial Times reported today that Obama is finally prepared to give Edward DeMarco the boot. DeMarco is acting director of FHFA, the agency that oversees Fannie and Freddie, and he has been under heavy fire from housing […]

Posted in: News and Events
One Statute to Rule Them All: A First Look at the Draft Uniform Residential Foreclosure Act
By October 25, 2012 40 Comments Read More →

One Statute to Rule Them All: A First Look at the Draft Uniform Residential Foreclosure Act

When we are young, we hate conformity. When we get old, we like consistency. If you are old, or just old at heart, you may appreciate the latest effort of the Uniform Law Commission (ULC) to draft a model statute that, if adopted, could bring consistency to foreclosure procedures across the United States. A Project […]

Posted in: Features
Edelstein v Bank of New York Mellon: Nevada Supreme Court Holds that MERS Splits the Note and Trust Deed
By October 24, 2012 0 Comments Read More →

Edelstein v Bank of New York Mellon: Nevada Supreme Court Holds that MERS Splits the Note and Trust Deed

You probably will not see little kids dressed up like a MERS trust deed this Halloween, but the endless MERS saga has more jump scares than the new Paranormal Activity sequel. The state that brought you Sin City is the latest to weigh in on the MERS brain twister in one of the strangest opinions […]

Posted in: Cases
By October 23, 2012 0 Comments Read More →

NCLC’s Consumer Rights Litigation Conference October 25-28

The National Consumer Law Center is hosting a Consumer Rights Litigation Conference in Seattle, Washington this week. Featured speakers include Richard Cordray, Director of the new Consumer Financial Protection Bureau; Neil Barofsky, former Special Inspector for TARP; Hedrick Smith, Pulitzer Prize winning former New York Times correspondent and Emmy-winning producer for Frontline; and David Vladeck, […]

Posted in: News and Events
By October 23, 2012 0 Comments Read More →

Foreclosure Mediation Update at OMA Fall Conference

The Oregon Mediation Association will be hosting its 26th annual conference on November 2-3 at the Ambridge Event Center. Friday afternoon will feature a workshop by stakeholders who served on the Attorney General’s Foreclosure Mediation Workgroup. Panelists will discuss the development, implementation, and current status of the program. Scheduled speakers include Kelly Harpster of Harpster […]

Posted in: News and Events