Legal Seminar, Chicago, IL

Resolution Strategy

• MMC Resolution Guidelines – facilitate the orderly restructuring or resolution of nonbank mortgage servicers that operate nationwide – avoid potentially destabilizing affects of unilateral state action • Five resolution objectives are considered by the MMC and state regulators: – Orderly transfer of servicing rights; – Remedy consumer harm; – Full accounting and disbursement of loan portfolio; – Surrender/Consent to Revocation of all state licenses; and – Prevent future harm by principals of the company.

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Resolution Strategy

Receivership

Administrative Action

Consent Order

Findings & Record Building

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