Action Code. 15 - To report the Borrower's filing for bankruptcy or instituting some other type of litigation that will prevent or delay liquidation of the Mortgage Loan. The Action Date will be either the date that any repayment plan (or forbearance) instituted by the bankruptcy court will expire or an additional date by which the litigation should be resolved.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (GreenPoint MTA Trust 2005-Ar2), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Ac1), Pooling and Servicing Agreement (GreenPoint MTA Trust 2005-Ar5)