Archive for January, 2013

By January 31, 2013 0 Comments Read More →

LPS Must Correct Robosigned and Forged Documents and Pay Oregon $3 Million

Oregon Attorney General Ellen Rosenblum announced today that Oregon will receive $3 million of the $120.6 million settlement with Lender Processing Services, Inc., and two subsidiaries, LPS Default Services, Inc. and DocX, LLC (collectively “LPS”).  LPS was at the heart of the robosigning scandal in which the largest lenders filed fraudulently executed or notarized foreclosure […]

Posted in: News and Events
By January 31, 2013 0 Comments Read More →

Why Is Portland Among the Worst Places to Buy a Foreclosure?

Today, the Oregonian’s Front Porch ran an article headlined “Portland Ranked Among Worst Places to Buy a Foreclosure” based on RealtyTrac’s 2012 Metro Foreclosure Report, released today. Front Porch reported that “Portland scored low because of a small supply of homes–nine months worth at the current sales rate” and a decline in foreclosure activity due […]

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Freddie Mac’s Diabolical Solution to Oregon’s Recording Requirement: Locate and Destroy the Assignment
By January 31, 2013 4 Comments Read More →

Freddie Mac’s Diabolical Solution to Oregon’s Recording Requirement: Locate and Destroy the Assignment

One of the most hotly contested issues in Oregon foreclosure law is whether lenders who do not obtain written assignments of trust deeds can foreclose non-judicially. While other lenders fret about their missing assignments, Freddie Mac has taken a different approach. Freddie instructs servicers to destroy them prior to foreclosure. In Oregon, a lender can […]

Posted in: Features
Robert Shiller’s Advice to Potential Buyers and Sellers? Don’t Do Anything Dramatic!
By January 27, 2013 0 Comments Read More →

Robert Shiller’s Advice to Potential Buyers and Sellers? Don’t Do Anything Dramatic!

Robert J. Shiller, a Yale economics professor best known for the eponymous Case-Shiller Home Price Index, has an article in today’s New York Times entitled A New Housing Boom? Don’t Count On It. Shiller makes short work of the endlessly optimistic industry rags who read Realtytrac reports like tea leaves and find  signs and portents […]

Posted in: Features
By January 25, 2013 0 Comments Read More →

IRS Provides Guidance on the Tax Consequences of Principal Forgiveness under HAMP-PRA

  Today the IRS issued a guidance to borrowers, servicers and lenders participating in HAMP-PRA. Under the Principal Reduction Alternative for HAMP, a borrower may earn forgiveness of a portion of the principal balance of the loan by making timely payments for three consecutive years. Each year that the borrower remains in good standing, the […]

Posted in: News and Events
By January 25, 2013 0 Comments Read More →

Group Demanding Foreclosure Moratorium Stages Sit-in at Sheriff’s Office (Updated)

We Are Oregon, a self-styled foreclosure resistance group, is staging a sit-in protest tonight at the Multnomah County Sheriff’s Office. According to the group’s website, eleven members are “conducting an act of civil disobedience today risking arrest to demand an end to evictions.” The protesters are refusing to leave “until the community demands are met,” […]

Posted in: News and Events
By January 25, 2013 0 Comments Read More →

Foreclosure Starts Remain Low Due to National Mortgage Settlement

Lender Processing Services (LPS) has released its latest monthly report on mortgage and foreclosure activity based on a review of loan-level data covering 70% of all mortgages in the US. The report shows that foreclosure starts have dropped sharply nationwide and remain low due to the National Mortgage Settlement. As a result of the drop […]

Posted in: News and Events
By January 24, 2013 0 Comments Read More →

NCOA Issues Updated Guide for Seniors Considering a Reverse Mortgage

The National Council on Aging (NCOA) today issued the 2013 version of Use Your Home to Stay at Home™, the official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development (HUD). The guide is designed to help seniors understand the pros and cons of a reverse mortgage. Reverse mortgages allow […]

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By January 21, 2013 0 Comments Read More →

Like an Oxpecker on a Rhino: Q-Law Blog’s Take on MERS’ Oral Arguments in Niday

Renowned real estate attorney Phil Querin has openly admitted that he has a bad case of MERS fatigue after regularly blogging about the MERS wars for the past two years. Apparently oral arguments in two key cases pending before the Oregon Supreme Court were fodder too tempting for even Querin to resist. in his latest […]

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By January 19, 2013 1 Comments Read More →

Banks Make Construction Analogies While Consumer Advocates Make Progress

The Statesman Journal reported today on an upcoming consumer bill that would get the foreclosure mediation program moving again. Angela Martin of Economic Fairness Oregon said that a bill is in the works that would expand mediation eligibility to homeowners facing judicial foreclosure. According to Martin, sponsors are going over every word to get the […]

Posted in: News and Events