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TABLE OF CONTENTS

 PART 1. GENERAL INFORMATION
1

Reasons for Regulatory Action

1

Background of HOWIC

2

Insurance Program of the Companies

2

Interruption in the Sale of New Policies

3

Directors and Officers Litigation

3

Other Asset Collection Activities

4
PART 2. EFFECTS OF RECEIVERSHIP
4

Change in Management

4

Authority of Deputy Receiver

4

Stay of Litigation

4

Rehabilitation Efforts

4

No Guaranty Fund Coverage

5

HOWIC Coverage Remains in Effect

5
PART 3. ADMINISTRATIVE CLAIMS PROCESS
6

Prioritization of Claims

6

Deputy Receiver's Directives

6

How to File a Claim

7

A. Claims for Builder Default Coverage

7

B. Claims for Major Structural Defect Coverage

7

C. Other Claims

7

Claim Submission

8

Defense of Third Party Actions

8

Other Insurance

8

Claim Determinations

8

Advisory Opinions Regarding Claims

8

Right to Appeal

8

Builder Repair Costs

9

Builder Adjudication of Claims

9

Conclusion

9
 PART 4. GLOSSARY
10
EXHIBIT A - MAJOR STRUCTURAL DEFECT QUESTIONNAIRE FOR HOME OWNERS
11
EXHIBIT B - RECEIVERSHIP APPEAL PROCEDURE
16
EXHIBIT C - REPAIR COST QUESTIONNAIRE FOR BUILDERS
19
SCHEDULE 1 - CONTACT INFORMATION FOR MILBURN HOMES
25
SCHEDULE 2 - CONTACT INFORMATION FOR THE RYLAND GROUP
25
Home Owner Survey 27

 

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