Common use of Automatic Acceleration and Assumptions Clause in Contracts

Automatic Acceleration and Assumptions. (a) ▇▇▇▇▇▇▇ Mac will enforce the terms of a mortgage that gives the mortgagee the right to demand full payment of the unpaid principal balance of the Mortgage upon sale or transfer of the property securing the Mortgage regardless of the creditworthiness of the transferee (a right of "automatic acceleration''),as permitted by applicable state and federal law and to the extent consistent with its then-current servicing policies. (b) ▇▇▇▇▇▇▇ Mac will permit the assumption by a new mortgagor of an FHA/VA Mortgage upon the sale or transfer of the underlying property, as required by applicable regulations. Any such assumption will be in accordance with applicable regulations, policies, procedures and credit requirements and will not result in loss or impairment of any insurance or guaranty.

Automatic Acceleration and Assumptions. (a) ▇▇▇▇▇▇▇ Freddie Mac will enforce the terms of a mortgage that gives the mortgagee the right to demand full payment of the unpaid principal balance of the Mortgage upon sale or transfer of the property securing the Mortgage regardless of the creditworthiness of the transferee (a right of "automatic acceleration''),as permitted by applicable state and federal law and to the extent consistent with its then-current servicing policies. (b) ▇▇▇▇▇▇▇ Freddie Mac will permit the assumption by a new mortgagor of an FHA/VA Mortgage upon the sale or transfer of the underlying property, as required by applicable regulations. Any such assumption will be in accordance with applicable regulations, policies, procedures and credit requirements and will not result in loss or impairment of any insurance or guaranty.

Automatic Acceleration and Assumptions. (a) ▇▇▇▇▇▇▇ Mac will enforce the terms of a mortgage that gives the mortgagee the right to demand full payment of the unpaid principal balance of the Mortgage upon sale or transfer of the property securing the Mortgage regardless of the creditworthiness of the transferee (a right of ""automatic acceleration''),as acceleration''), as permitted by applicable state and federal law and to the extent consistent with its then-current servicing policies. (b) ▇▇▇▇▇▇▇ Mac will permit the assumption by a new mortgagor of an FHA/VA Mortgage upon the sale or transfer of the underlying property, as required by applicable regulations. Any such assumption will be in accordance with applicable regulations, policies, procedures and credit requirements and will not result in loss or impairment of any insurance or guaranty.