Days Delinquent. On approximately the 62nd day of delinquency and after the expiration of the demand, if Fairbanks and the borrowers have not agreed on a plan to cure the default, the Legal Department will refer the loan to local counsel for foreclosure. The LSR will continue to contact the borrowers by telephone even after the loan has been approved for foreclosure until all avenues to cure the default have been exhausted.
Appears in 2 contracts
Sources: Sale and Master Servicing Agreement (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-2), Sale and Master Servicing Agreement (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-1)