ProCouncil™ Advisory
A Limited Liability Division
Litigation, Risk & Default Servicing Mitigation Products, Solutions and Services

Did You Know That?

President Bush signed the ‘‘Housing and Economic Recovery Act of 2008’ on July 30 2008 that allows for principal reduction, forgiveness and ShortRefinance™ conceptual solutions?

* Conflicts of Interest in Workouts & Loan Modifications could result in Class Action Lawsuits? Do you know it’s avoidable?

* Servicers, Lenders and Foreclosure Attorneys who offer loan modification resolutions after starting the foreclosure process, may be violating the FDCPA re “confusion” and over-shadowing’?

* 58% of residential homes are underinsured (P&C) by 22%, by national average? Are you protected from this liability?

* Mortgage Insurance (MI) denials may be challenged beyond claims of fraud?

* Mortgage Industry Insurance Warning:

Denying the Existence of Debt – May Cause Denial of Coverage!

“Coverage may be available for investigations, litigation, defense or indemnity. Directors and Officers (D&O), Errors & Omissions (E&O), Commercial General Liability (CGL), Employment Practices Liability (EPL), Credit Risk, Accounts Receivable or Private Mortgage Insurance (MI), and Investors Residential Value (IRV) insurance policies may be in play. Whether or not directors and officers (Board of Directors) are required to give notice of a ‘potential’ claim to their carrier(s) or whether certain exclusions preclude coverage, will be hotly contested as investigations and lawsuits are filed and coverage requests are made.” Click for more info.

* E&O and D&O Insurance may be at play in current disputes and lawsuits?

* There is hidden liability arising from M&A (and Buying/Selling Mortgage Portfolios)? Are you protected from this liability?

* Owners, Directors and Executives may have liability exposure? Are you protected from this liability?

* New FAS Rule 157 will have sweeping implications on MSR valuation, booking and reporting.