The Portal LM/MM process continues to be a successful means for debtors and creditors to address mortgage debt as recent statistics suggest that more than 70% of completed reviews result in trial modifications, permanent loan modifications and other arrangements beneficial to the parties.
In an effort to continue to improve the Portal LM/MM process and after input from members of the Bar who are most active in the LM/MM program, Judge Waites has made certain changes to the applicable Chambers Guidelines to be effective July 1, 2018.*
The changes primarily provide more time for the completion of the Debtor’s Prepared Package, and the scheduling of court hearings as backstops to ensure the timely exchange of information. More complete information will allow for a more effective mediation process when needed.
The updated LM/MM guidelines are attached below. Updated forms and orders will be forthcoming. In addition, chambers will be hosting bar meetings in June for the Charleston and Columbia divisions to review these LM/MM changes.
In the meantime, members of the Bar may provide comments or suggestions in writing to Andrew Powell (Andrew_Powell@scb.uscourts.gov) no later than June 14, 2018.
* In anticipation of these updated guidelines, the Court has revised and is presently using LM/MM orders that reflect these modified procedures.