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ProCouncil™ Advisory
A Limited Liability Division
Litigation, Risk & Default Servicing Mitigation Products, Solutions and Services
New Law May 26 2009 Signed by President Obama - Helping Families Save Their Homes Act of 2009 - S 896
TaxAnalysts Tax Notes Article Quoting Rydstrom, Chairman CMIS ;
April 13, 2009: Richard Rydstrom Fighting for Best Practices for the Servicer to Help the Borrower -
Quoted in Tax Analysts Tax Notes (Tax.Org), the preeminent national tax policy and news publication.
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"It's a good step in the right direction," said Richard Rydstrom, chair of the Coalition
for Mortgage Industry Solutions. He said, however, that the guidance does not resolve
a potential discrepancy from prior guidance in which the phrases "reasonably
foreseeable default" and "imminent default" seem to be used interchangeably. The
industry needs to be reassured that the safe harbor will apply to the reasonably
foreseeable standard, which is broader, Rydstrom said. "
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Thank You, Richard Ivar Rydstrom, Esq.
rrydstrom@gmail.com
April 10, 2009
Mortgage Modification Safe-Harbors?
HAMP, Are We There Yet?
The Silent Modification Killers:
Sanctity of Contract, The 100% Tax, The Lawsuit!
New Insured Tradable Principal Reduction Modifications
New Treasury/IRS Notice 2009-36 and Rev. Proc. 2009-23 (Step 3)
By Richard Ivar Rydstrom, Esq., LL.M.
Chairman, Coalition for Mortgage Industry Solutions,
Pro Council Advisory
rich@procouncil.com
Legacy Assets April 2009
April 2009 - PPIF - Legacy Loans, Legacy Securities Outline
March 23, 2009 - Treasury - TALF - Public-Private Investment Program
$500 Billion to $1 Trillion Plan to Purchase Legacy Assets
Click Here Treasury Guidance TALF
Public-Private Investment Program Fact Sheet
Legacy Securities Summary of Terms
Legacy Securities FAQs
Application for Private Assets Managers
Legacy Loans Summary of Terms
Legacy Loans FAQs
New Law: H.R. 1 - American Recovery & Reinvestment Act - 2009
Click Here Full Text of New Law
Solution Programs & Guidance - Modifications and Refinance
Home Affordable Modification Program Guidelines March 4, 2009
Freddie Mac Home Affordable Modification Plan March 4 2009 Guidance Intro
Freddie Mac Relief RefinanceSM Mortgages
Home Affordable Refinance – New Refinance Options for Existing Fannie Mae Loans (03/04/09)
Default and Foreclosure Alternatives from the Ca Attorney General:
California Attorney General Edmund G. Brown Jr.
Ca Attorneys General Settlement Decree with Countrywide
Ca Attorneys General Lawsuit v Countrywide
Class Action - Wells Fargo, HSBC
HSBC reverse redlining
Troubled Assets Relief Program - TARP - Oct. 1, 2008 FASB 157 Board Decision re FAS 157
New Senate Version Oct. 1, 2008 ‘‘Emergency Economic Stabilization Act of 2008’’
Tax Provisions of
Tax Proposals Summary
Sept. 28, 2008 - Sunday 7pm - Final Draft pending vote: Voted Down 9-29-08
‘‘Emergency Economic Stabilization Act of 2008’’
Sept. 25, 2008 | WIP Negotiation Draft Points
Click Here
Sept. 8, 2008 | FASB & IFRS Convergence
Issue: Differences in refinancing of short-term obligations and curing
breaches of borrowing. Click
September 7, 2008! Another Sunday Shocker, or Business as Usual? ™
By Richard Ivar Rydstrom, J.D., LL.M.,
Chairman, Coalition for Mortgage Industry Solutions, CEO ProCouncil™ Advisory
Click for Article
September, 2008! Another Sunday Shocker!
TREASURY SENIOR PREFERRED STOCK PURCHASE AGREEMENT
GOVERNMENT SPONSORED ENTERPRISE CREDIT FACILITY
GSEMORTGAGE BACKED SECURITIES PURCHASE PROGRAM
In The News - August 2008:
PERSONS OF THE WEEK LEROY & RYDSTROM AUGUST 2008 RE BEST PRACTICES
New Laws:
‘‘Housing and Economic Recovery Act of 2008’ Signed by President Bush on July 30 2008
Industry News:
August 2008: FAS 140 Delayed One Year!
The Financial Accounting Standards Board (FASB) postponed the implementation of FAS 140 by one year. FAS 140 would consolidate securitization qualified special-purpose entities (QSPE) - including mortgages, credit card, student and retail auto loans. Losses and valuations would be brought (back) to the balance sheets and potentially adversely impact capital and regulatory requirements, financial ratios, financial covenant performance and dampen credit markets, trigger more write downs, and impede liquidity.
HOPE NOW - June 17, 2008. Hope Now June 17, 2008 New Servicer Guidelines
Opt In Safe Harbors™ | Litigation Free Zone™
As part of its Vision to be a primary catalyst of the mortgage banking community and as the forum of choice for the articulation of concerns and issues (see: http://www.e-afn.org/mission.html), the American Legal & Financial Network, (“AFN”) announces its support of Opt In Safe Harbors™ as a viable mechanism to supply the framework for self-resolution among mortgage industry participants. Click Here for Press Release
CMIS Launches Four Task Forces:
Mortgageorb - Oxford,CT,USA
The AFN has chosen Richard Ivar Rydstrom, chair of CMIS,
to co-chair its CLAPT, which will focus upon identifying federal, state, local and practice ...Click Here.
CMIS Summit Success!
On June 17, 2008, The Coalition for Mortgage Industry Solutions held its
Executive Leadership Summit in DC. Click here for more info.
AFN Conference July 2008:
On July 18, 2008, Richard Ivar Rydstrom, Esq. will speak at the
AFN Annual Mortgage Conference in Lake Tahoe.
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