The History of the CMIS Coalition for Mortgage Industry Solutions,
D.C., Newport Beach, Ca
 2007 to the expiration of HAMP





CMIS History of Success: CMIS was established by Rich Rydstrom and Wil Leroy (CEO AFN) with the general counsel of Dickstein Shapiro (DC),  to help reconcile disparate interest to resolve the Great Recession. Rydstrom was the Chairman of CMIS creating solutions and best practices for HAMP, foreclosure and related banking standards, and safe harbors. Rydstrom’s 110th Congressional Statement was termed the Bible for solutions to the Great Recession.  CMIS DC General Counsel was DICKSTEINShapiro; K Street, D.C.



CMIS History 2006


   CMIS General Counsel K Street

CMIS Mission: CMIS History; Some Interviews & Articles:
PERSON OF THE WEEK: Richard Rydstrom And A New Coalition Of The Willing; CMIS Executive Leadership Summit June 17, 2008 Click ; CMIS Endorsement TARP SecPaulson Click CMIS; Creation of HAMP & Standards ClickRydstrom CMIS Launches Four Task Forces;  CMIS; HAMP Coalition Work for the Great Recession Click
CMIS; HAMP Program Click ; CMIS; HAMP Awards Click CMIS Awards Click ; CMISfocus Magazine Rydstrom & Wilbur Ross Summit Solutions; CMIS Community Banks Magazine Alert
NBI/CMIS Rydstrom Live Webcast 2Vol DVD Set CLE NAtional Event with Book; Rydstrom Congressional Statement 110th Congress House Ways & Means re Economic  Crash & Solutions; ***HARP Program Rydstrom PhilHAll Interview ; Interview Rydstrom Hall Gov Raskin Fines Servicers; Jumbo Loans Interview RydstromNational Experts Rydstrom Interview John Clapp ; AG HArris Interview Rich Rydstrom CMIS ; Mod Safe Harbors by Rydstrom Cmis; FHA GNMA Ballon Rydstrom Cmis; Restructure GSEs Freddie Fannie Rydstrom; Experts Annual Review Rydstrom Secon Financing; Recovery Interview Rydstrom; All Presidents HAMPmen Rydstrom; * * * Commercial; Mods Vegas Rydstrom; Commercial Mods Ready for Prime Time? Rydstrom; FINAL REGULATIONS OPEN ISSUES Rydstrom Cmis; Constructor Magazine Rich Rydstrom; FHFA Principal Reductions Interview Rich Rydstrom Phil Hall;  News Release Secret Seconds Piggyback Mortgages

Rich Ivar Rydstrom Congressional Statement US Govt GPO 110th House Ways Means Committee

Rydstrom Esq Landmark Ca Case HAMP & Unfair Trade Practices West v. JP Morgan Chase;

Rydstrom, Chairman of CMIS on Shadow Banking ;  Rydstrom creates Shadow Banking and Covered Bond Guidance

* * * 
List of Articles & Links to Rydstrom CMIS Articles, Quotes & Interviews in National Banking Press


The Creation of HAMP Mortgage Modifications

CMIS was established by Rich Rydstrom and Wil Leroy (CEO AFN) with the general counsel of Andrew Sherman of Dickstein Shapiro (DC) to help reconcile disparate interest to resolve the Great Recession. Prior, in 2006, Rich Rydstrom, Esq. released a predictive article regarding Naked Seconds estimating billions in losses and a crash of the secondary and shadow banking mortgage system. Rydstrom was asked by Chairman Charles Rangel of the House Ways & Means Committee, to give a statement to Congress from a neutral standpoint considering all sides. By January 2007, Rich Rydstrom gave his predictive Statement with Solutions to the 110th Congress creating what Wil Leroy (CEO of AFN) and Standard and Poors (Michael G.) called the Bible for Mortgage Modifications, First and Second Lien Mortgages, Lien Servicing, Secondary and Shadow Banking systems, and related Tax Regulation solutions to the Great Recession.  Wil Leroy and Rich Rydstrom engaged the financial and mortgage community and led the debate on new Servicing Best Practices.

When the U.S. Treasury was establishing national policy on mortgage modifications, servicing  and foreclosures for President Obama’s Home Affordable Modification Program (HAMP), Rydstrom served directly to the U.S. Treasury and also served on the official working groups with the American Legal & Financial Network (AFN), MBA, consumer groups and banking institutions.

When the 110th Congress wanted a neutral analysis of the predictive mortgage finance meltdown, Rydstrom was chosen to give an official Statement to the House Ways & Means Committee. When the AFN wanted to educate its mortgage banking servicers on the U.S. Treasury’s first HAMP outline, they chose Rydstrom.

HAMP and HAFA were created with direct input by Rich Rydstrom to the US Treasury, as well the efforts of CMIS and Wil Leroy, CEO of the AFN, throughout the financial banking industry with all major banks, credit unions, Servicing companies, and GSEs (Fannie and Freddie) participating. Rich Rydstrom, Esq. made landmark case law in California (West v. J P Morgan Chase Bank) establishing duties on lenders and servicers, and defining the rights of borrowers to sue based upon violations of HAMP/HAFA guidelines/regulations and public policy to support all state court causes of action, and establishing California Unfair Trade Practices standards under B&P 17,200 et seq.
Around the time of the expiration of HAMP, the Coalition's work ceased. HAMP was implemented and case law and servicer guidelines were implemented.


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