Filed: May 01, 2014
Latest Update: May 01, 2014
Summary: ORDER REFERRING CASE TO ADR UNIT FOR ASSESSMENT TELEPHONE CONFERENCE NATHANAEL M. COUSINS, Magistrate Judge. Pursuant to Civil Local Rule 16-8 and ADR Local Rule 2-3, the Court refers this foreclosure-related action to the Alternative Dispute Resolution (ADR) Unit for a telephone conference to assess this case's suitability for mediation or a settlement conference. Plaintiff's counsel and counsel for the Wells Fargo Defendants must participate in a telephone conference, to be scheduled by the
Summary: ORDER REFERRING CASE TO ADR UNIT FOR ASSESSMENT TELEPHONE CONFERENCE NATHANAEL M. COUSINS, Magistrate Judge. Pursuant to Civil Local Rule 16-8 and ADR Local Rule 2-3, the Court refers this foreclosure-related action to the Alternative Dispute Resolution (ADR) Unit for a telephone conference to assess this case's suitability for mediation or a settlement conference. Plaintiff's counsel and counsel for the Wells Fargo Defendants must participate in a telephone conference, to be scheduled by the A..
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ORDER REFERRING CASE TO ADR UNIT FOR ASSESSMENT TELEPHONE CONFERENCE
NATHANAEL M. COUSINS, Magistrate Judge.
Pursuant to Civil Local Rule 16-8 and ADR Local Rule 2-3, the Court refers this foreclosure-related action to the Alternative Dispute Resolution (ADR) Unit for a telephone conference to assess this case's suitability for mediation or a settlement conference. Plaintiff's counsel and counsel for the Wells Fargo Defendants must participate in a telephone conference, to be scheduled by the ADR Unit as soon as possible but no later than May 30, 2014.
Plaintiff's counsel and counsel for the Wells Fargo Defendants must be prepared to discuss the following subjects:
(1) Identification and description of claims and alleged defects in loan documents.
(2) Prospects for loan modification.
(3) Prospects for settlement.
The parties need not submit written materials to the ADR Unit for the telephone conference.
In preparation for the telephone conference, Plaintiff's counsel must do the following:
(1) Review relevant loan documents and investigate the claims to determine whether they have merit.
(2) If Plaintiff is seeking a loan modification to resolve all or some of the claims, Plaintiff must prepare a current, accurate financial statement and gather all of the information and documents customarily needed to support a loan modification request. Further, Plaintiff's counsel must immediately notify counsel for the Wells Fargo Defendants of the request for a loan modification.
(3) Provide counsel for the Wells Fargo Defendants with information necessary to evaluate the prospects for loan modification, in the form of a financial statement, worksheet or application customarily used by financial institutions.
(4) Arrange for Plaintiff to participate in the telephone conference.
In preparation for the telephone conference, counsel for the Wells Fargo Defendants must do the following:
(1) If the Wells Fargo Defendants are unable or unwilling to do a loan modification after receiving notice of Plaintiff's request, counsel for the Wells Fargo Defendants must promptly notify Plaintiff's counsel to that effect.
(2) Arrange for a representative of the Wells Fargo Defendants with full settlement authority to participate in the telephone conference.
The ADR Unit will notify the parties of the date and time the telephhone conference will be held. After the telephone conference, the ADR Unit wiill advise the Court of its recommendation for further ADR proceedings.
IT IS SO ORDERED.
