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

Troubled Assets Relief Program 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.