Action Code 20 Sample Clauses
Action Code 20 is a procedural clause that designates a specific type of action or status within a contract or operational workflow. Typically, such codes are used to categorize or trigger particular responses, such as initiating a review, escalating an issue, or marking a task as completed. For example, in a service agreement, Action Code 20 might signal the need for immediate attention to a service disruption. The core function of this clause is to streamline communication and ensure that all parties understand the required actions or statuses, thereby reducing confusion and improving operational efficiency.
Action Code 20. To report that the Borrower has agreed to a deed-in-lieu or an assignment of the property. The Action Date is the date the Servicer decided to pursue a deed-in-lieu or the assignment. Action Code 30 - To report that the decision has been made to foreclose the Mortgage Loan. The Action Date is the date the Servicer referred the case to the foreclosure attorney. Action Code 60 - To report that a Mortgage Loan has been paid in full either at, or prior to, maturity. The Action Date is the date the pay-off funds were remitted to the Master Servicer.
Action Code 20. To report that the Borrower has agreed to a deed-in-lieu or an assignment of the property. The Action Date is the date the Servicer decided to pursue a deed-in-lieu or the assignment.