Archive for November, 2012

By November 21, 2012 2 Comments Read More →

Architect of Robosigning Pleads Guilty to Fraud

Lorraine Brown, former president of the now infamous robosigning operation DocX, has agreed to plead guilty to conspiring to commit mail and wire fraud. The plea agreement details how, from 2003 to 2009, Brown instructed employees to knowingly sign and notarize false affidavits and mortgage assignments to help servicers push foreclosures through the system. As […]

Posted in: News and Events
By November 19, 2012 1 Comments Read More →

Foreclosure Settlement Monitor Reports $200 Million in Relief Provided to 3,000 Oregonians

The national mortgage settlement monitor released his second report today detailing the consumer relief offered to date. The settlement requires the five largest mortgage servicers to modify loans, forgive principal, and facilitate short sales over the next three years. To date, over 3,000 Oregonians have received nearly $200 million in relief. The Numbers Nationwide Servicers […]

Posted in: News and Events
By November 19, 2012 0 Comments Read More →

Oregonian Calls For Expanding Mediation to Judicial Foreclosures, Preserving Dual Track Protections

On Sunday, the Oregonian published an editorial calling for the Legislature to require foreclosure mediation in both judicial and non-judicial foreclosures. The Oregonian also urged the Legislature to preserve other changes to the foreclosure process that are working, like the dual track notice provision we discussed here. The editors encouraged the Legislature to make these […]

Posted in: News and Events
By November 17, 2012 4 Comments Read More →

“Foreclosure Fighters” Stage Protest at Portland City Hall

Local news outlets are reporting that at least 50 protestors calling themselves “foreclosure fighters” gathered in front of Portland City Hall today to protest the forcible eviction of Patricia Williams and Darren Johnson. Protesters also staged a sit-in at the former home of Williams and Johnson. Williams and Johnson allege that they requested a loan […]

Posted in: News and Events
By November 16, 2012 0 Comments Read More →

Freddie Mac Offering Cash Incentives to Selling Agents and Listing Brokers on REOs

Freddie Mac has announced limited-time cash incentives to agents who successfully list or sell a Freddie Mac REO property in 20 states, including Oregon. The winter promotion is part of Freddie Mac’s HomeSteps program. Selling agents will receive a $1,000 bonus for owner occupant offers submitted through HomeSteps Connect between November 15, 2012 and February […]

Posted in: News and Events
By November 15, 2012 0 Comments Read More →

Treasury Report Describes How Major Loan Servicers Are Implementing Single Point of Contact Requirements

This week the US Treasury Department released a new report surveying servicer implementation of the new Single Point of Contact (SPOC) requirements. The report describes the different methods servicers have used to implement SPOC and discusses how the nine largest Making Home Affordable servicers manage training, caseloads, missed calls, and performance metrics. We all remember too […]

Posted in: News and Events
Oregon’s Dual Track Notice Provision is Working
By November 15, 2012 2 Comments Read More →

Oregon’s Dual Track Notice Provision is Working

The mediation bill passed last spring contained some unrelated reforms to the non-judicial foreclosure process in Oregon. One of those reforms is a requirement that lenders send homeowners a notice explaining in plain English why they do not qualify for a loan modification, short sale, or other foreclosure avoidance measure. If the homeowner and the […]

Posted in: Features
By November 15, 2012 0 Comments Read More →

Oregon Launches Statewide Foreclosure Hotline and Legal Assistance Program

Oregon Housing and Community Services today announced the official launch of a new program to provide legal assistance to low income Oregon homeowners facing foreclosure and tenants facing eviction after a foreclosure. Legal Aid Services of Oregon (LASO) will directly assist income-eligible homeowners. Those who do not meet the income guidelines may be referred to […]

Posted in: News and Events
By November 15, 2012 0 Comments Read More →

Banks Are Still Refusing to Comply with Oregon’s Foreclosure Mediation Program

The Attorney General’s Advisory Committee for the Foreclosure Mediation Program met on Tuesday for a regularly scheduled public meeting. The Department of Justice reported that, since the program launch in July, 239 at risk homeowners have requested mediation to avoid foreclosure.Lenders failed to respond to the requests as required by law 68% of the time. […]

Posted in: News and Events
By November 12, 2012 1 Comments Read More →

Multnomah County Planning to Sue MERS For Millions in Recording Fees

This Thursday Multnomah County Commissioners will vote on whether to enter the MERS wars. The County is teaming up with an out-of-state law firm who has brought similar suits around the country. The complaint will seek “damages and injunctive relief for failure to properly record mortgage transfers with the County.” Commission Chairman Jeff Cogen told […]

Posted in: News and Events