Term Paper on "Effectiveness of the Dispute Resolution Process"

Term Paper 3 pages (1232 words) Sources: 1+

[EXCERPT] . . . .

Mortgage Company

Effectiveness of the Alternative Dispute Resolution Process

The purpose of this work is the identify dispute either in the past or that is current within a Mortgage Company Organization that has been resolved informally or has resulted in some form of legal process such as grievance, agency complaint, arbitration or litigations. This work will summarize the dispute and then perform an analysis of the effectiveness of the dispute resolution process.

In the work entitled "Class Actions as Alternative Dispute Resolution" written by John C. Kleefeld and published in the Osgoode Hall Law Journal stated is that: "At its most basic level, ADR [alternative dispute resolution] theory and practice contrasts a world in which disputes are processed by "rights talk" with a world of disputing based on party interests. The latter, implicitly or explicitly is seen as the alternative to the former." Kleefeld. (2001) The distinguishing feature in alternative dispute resolution is that the decision is made by an individual who is completely impartial in that decision. Further the individual whose responsibility it is to make the decision will reference some standards in either 'rights', 'duties', 'laws', 'common-law' and then applies some credible and authoritative body of "rules or precedents." The process of Alternative Dispute Resolution is one that focuses on constructing an 'agreement' between the individuals or parties at odds in the dispute with neither of the party winning per se' but both parties entering an "agreement of settlement" in the case. In this instance the dispute will be within the framework of a 'mortgage company' involved dispute and therefore the aspects affecting the mortgage company 'alternate dispute resolution' process must be given consideration.

I. Characteristics of the ADR Process:

Characteristics of the process in ADR is that it is a quick solution and is a process in which the parties to the dispute can discuss and debate the dispute before the dispute is a locked-in condition to interrelations between the two parties. Furthermore the process of ADR is "confidential and without prejudice." Canadian Human Rights Commission: Alternative Dispute Resolution. (2005) The process of ADR is inclusive of 'plain talk' or 'cutting to the chase' between the two parties. The agenda within the process is set by the parties to the disputes themselves and a decision is that of an impartial party who can be counted credible for assessment of that which is a fair 'agreement' or 'settlement' within the ADR process.

II. Characteristics within the Mortgage Company ADR Process: A Fictitious Example scenario is given in the work entitled 'First City Bank and the Press-Developing a Public Relations Strategy" located [Online] at http://www.pon.org/catalog/productinfo.php?cPath=23&products_id=41 is that in which a mortgage company scam has been discovered and has been published in the local paper. First City Bank is stated as being involved through having offered "allegedly high interest rate loans in low-income and minority neighborhoods as well as a high number of foreclosures in these areas." Further stated is the fact that private mortgage companies have been accused of collusion in relations with contractors and that the blame has been placed on the government within the city.

III. The Applied Process of Alternative Dispute Resolution:

Arrangements for a meeting with the political leaders of low-income neighborhoods as well as the office of the Mayor and the State Banking Commission and the contractors. The decision has been made that the meeting or the "Alternative Dispute Resolution Process" should be conducted in the matter of approximately two hours in order to reach a solution plus another '60 to 90 minutes' for discussion of the alternative resolutions or the settlement agreement between the parties in relation to the dispute. The ideal situation is to allow approximately 30 to… READ MORE

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